Susi Setiawati, CNBC Indonesia
Market
Monday, 02/10/2023 21:35 IWST
Photo: Federal Reserve Board Chairman Jerome Powell (REUTERS/Yuri Gripas)
Jakarta, CNBC Indonesia – The United States (US) stock exchange or Wall Street compactly opened lower in trading Monday (2/10/2023) ahead of the speech by chairman of The Federal Reverse Jerome Powell.
The Dow Jones index opened with a correction of 0.23% at 33,431.31, the S&P 500 opened down 0.18% at 4,280.50, and the Nasdaq opened down 0.02% at 13,216.81.
Wall Street’s main indexes opened lower on Monday as the 10-year Treasury yield reached its 2007 high again or near a 16-year high. Meanwhile investors await comments from Federal Reserve Chair Jerome Powell and more data this week to gauge the central bank’s interest rate path.
Federal Reserve Chair Jerome Powell will speak at a roundtable with Philadelphia Fed President Patrick Harker.
Investors will be interested to hear any comments on interest rates and the state of the US economy after New York Fed boss John Williams suggested on Friday that interest rates should remain high for some time.
Today’s economic data shows The Institute for Supply Management’s manufacturing index is expected to edge up 0.3 percentage points to 47.9 from August, remaining in contraction territory.
Another key focus this week will be updates on the health of the labor market.
JOLTS job openings figures, ADP private payrolls data and weekly jobless claims figures all come before the jobs report on Friday as investors assess whether the Federal Reserve’s interest rate hikes are impacting the slowdown in the labor market’s resilience so far.
Disclaimer: This article is a journalistic product in the form of CNBC Indonesia Research’s views. This analysis does not aim to encourage readers to buy, hold, or sell related investment products or sectors. The decision is entirely up to the reader, so we are not responsible for any losses or profits arising from this decision.
Watch the video below:
At the beginning of the week, JCI closed in the green zone
(saw/saw)
2023-10-02 14:35:00
#Wall #Street #Crashes #Awaiting #Fed #Chairman #Powells #Speech
