The case is updated.
Friday’s labor market figures from the US showed that there is still a tight labor market, while DNB Markets also sees signs of cooling. Employment outside agriculture in the US – “Nonfarm payrolls” – increased by 187,000 positions in July. The figure is often referred to as the most important key figure of the month.
The S&P 500 rose 0.90 percent to 4,518.53.
The Nasdaq rose 0.61 percent to 13,994.40.
The Dow Jones rose 1.16 percent to 35,473.79.
The volatility index – VIX – fell 6.02 per cent to 16.07.
WTI oil fell 0.43 percent to 82.48 dollars per barrel at the close.
Movements
Facebook owner Meta, Amazon, Netflix, Apple and Alphabet (also known as the FAANG stocks), had a good day on the stock exchange on Monday:
Facebook rose 1.88 percent to $316.56.
Amazon rose 1.90 percent to $142.22.
Apple fell 1.73 percent to $178.85.
Netflix rose 2.12 percent to $440.76.
Alphabet rose 2.67 percent to $131.53.
On Monday, Berkshire Hathaway’s B shares rose nearly 3.6 percent to trade at a new record high of $362.49 a share. stock. The previous record was set in March 2022, when the stock closed the day at $359.57.
Important numbers
The recent labor market reports from the US, which were published on Friday, indicate continued tightness in the labor market, while there are signs of some cooling, according to analysis from DNB Markets. In the month of July, employment outside agriculture in the US, also known as “Nonfarm payrolls”, increased by 187,000 positions. This figure is often considered one of the month’s most significant indicators of economic performance. The expectations from Trading Economics indicated an expected increase of 200,000 positions.
The unemployment rate is 3.5 per cent, while an unemployment rate of 3.6 per cent was expected. Wage growth was unchanged, while a slight decline was expected.
“In sum, the numbers that came in on Friday gave somewhat mixed signals, but were mainly supportive of our view that the Fed will not raise interest rates further in September,” DNB Markets wrote in Monday’s morning report.
2023-08-07 20:01:34
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