NEW YORK (dpa-AFX) – The most important US stock indices are likely to come out lower after the long weekend after the US job market report for March published on Friday. Broker IG rated the Dow Jones Industrial 0.4 percent lower at 33,356 points three quarters of an hour before the start of trading on Monday. He saw the technology-heavy Nasdaq 100 down more than twice as much at 12,951 points.
Since the US stock exchanges were closed on Friday, investors can only now react to this. In Europe, trading will only resume on Tuesday. The report continued to show robust developments in the US labor market in March. Employment growth remains at a high level. The already very low unemployment rate fell and wage growth accelerated somewhat.
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The labor market has also shown itself to be very robust in recent months. The key rate hikes by the US Federal Reserve, which began more than a year ago, had hardly had any impact for a long time. Strong wage growth in particular is making it more difficult for the Fed to fight inflation. Recently, however, there have been increasing signs of a slight slowdown in the labor market. For example, the number of vacancies in February fell below ten million for the first time in 2021. It remains to be seen how the recent turbulence in the US banking sector will affect the labor market. There is still uncertainty on the financial markets as to whether the Fed will raise the key interest rate again by 0.25 percentage points in May.
Exxonmobil lost 1.1 percent premarket. According to the Wall Street Journal, the US oil giant has held preliminary talks with the fracking company Pioneer Natural Resources about a possible purchase. Its shares jumped 6.3 percent.
Tesla fell 2.7 percent. The company has again lowered prices on all models. Company boss Elon Musk has declared that he wants to forego profitability in favor of increasing sales figures. However, the last price reduction campaign for the entire range quickly fizzled out./he
