Record for S&P 500 and Nasdaq on labor market growth | Financial

The Dow Jones index closed 0.4% higher, the broad S&P 500 rose 0.3% and the Nasdaq is 0.1% higher.

Investors are especially looking forward to tomorrow. The important US jobs report will be released on Friday. Labor market developments play an important role in the Federal Reserve’s monetary policy.

Claims for benefits last week came in at 340,000, while the average had been estimated at 345,000. That is the lowest level since mid-March last year, before the corona crisis hit the US.

Positive signal

If the labor market recovery weakens, the Fed may be more inclined to maintain economic stimulus programs.

On Wednesday, there were disappointing figures from payslip processor ADP about job growth in the American business community.

Among the companies, the online retailer of pet food and accessories Chewy a striking decline with a minus 9.3%. Chewy released disappointing quarterly figures and outlook. ChargePoint actually gained 8.2%. The company active in charging stations for electric cars reported figures that were very well received by investors.

Taxi app Didi loses

Other companies that opened the books included jewelry chain Signet Jewelers (+5.6%), food producer Hormel Foods (-4.6%) and supplier of network equipment and software Ciena, which went up 2.9%.

The New York-listed Chinese taxi app Didi Global was set 4.2% lower. Didi, along with other Chinese internet companies, has been sued by the Chinese authorities for illegal practices. The regulators accuse the companies of using unqualified drivers and vehicles.

Airline United Airlines went up 1.2% percent. United has suspended operations at its major Newark interchange in the state of New Jersey due to flooding from the remnants of Hurricane Ida, according to CNN news channel.

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