{"id":803,"date":"2023-09-01T13:31:28","date_gmt":"2023-09-01T13:31:28","guid":{"rendered":"https:\/\/efimarkets.com\/blog\/?p=803"},"modified":"2023-09-01T13:32:40","modified_gmt":"2023-09-01T13:32:40","slug":"us-stocks-mixed-as-market-looks-ahead-to-jobs-data","status":"publish","type":"post","link":"https:\/\/bhimmarkets.com\/blog\/us-stocks-mixed-as-market-looks-ahead-to-jobs-data\/","title":{"rendered":"US stocks mixed as market looks ahead to jobs data"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"803\" class=\"elementor elementor-803\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0aacdc9 e-con-boxed e-flex e-con\" data-id=\"0aacdc9\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-008669d elementor-widget elementor-widget-text-editor\" data-id=\"008669d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"color: #000000;\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft wp-image-804\" src=\"https:\/\/efimarkets.com\/blog\/wp-content\/uploads\/2023\/09\/MicrosoftTeams-image-777-300x167.png\" alt=\"Us stocks\" width=\"450\" height=\"250\" srcset=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2023\/09\/MicrosoftTeams-image-777-300x167.png 300w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2023\/09\/MicrosoftTeams-image-777-1024x569.png 1024w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2023\/09\/MicrosoftTeams-image-777-768x427.png 768w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2023\/09\/MicrosoftTeams-image-777.png 1080w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/>On the last trading day of August, Wall Street lost some of its early enthusiasm and the dollar rose as investors shifted their attention to Friday&#8217;s important jobs report and the widely anticipated inflation data failed to provide many shocks.\u00a0<\/span><\/p><h2><span style=\"color: #000000;\"><b>The Three Major Indexes<\/b> : US stocks<\/span><\/h2><p><span style=\"color: #000000;\">The S&amp;P 500 followed the Dow in the red, but the tech-heavy Nasdaq finished marginally higher. The S&amp;P 500 had its greatest percentage down since February, while the Nasdaq, which is heavily weighted in technology, saw its steepest decline of the year. All three indexes reported losses for the month. \u00a0<\/span><\/p><p><span style=\"color: #000000;\">According to Joseph Seroka, chief investment officer of Nova Point in Atlanta, &#8220;in August, a little bit of enthusiasm surrounding AI and the big tech names has been digested.&#8221; Investors are seeking a theme that extends support beyond the major seven equities that accounted for the majority of gains for the year.\u00a0<\/span><\/p><h2><span style=\"color: #000000;\"><b>PCE Price Index<\/b>\u00a0<\/span><\/h2><p><span style=\"color: #000000;\">The closely watched Personal Consumption Expenditures (PCE) price index from the Commerce Department, the Fed&#8217;s preferred inflation yardstick, came in right on target among a smattering of U.S. economic reports, allaying concerns about an upside surprise that might have helped prompt yet another interest rate hike in September. \u00a0<\/span><\/p><p><span style=\"color: #000000;\">Seroka said, &#8220;The PCE data came in consistent with most expectations, and now we have tomorrow&#8217;s employment report as well as the CPI and PPI on the way to the next Fed meeting.&#8221; &#8220;The Fed has truly been lacking the employment puzzle piece. According to the Fed, in order to reduce wage pressure, unemployment must increase and there must be greater slack in the labour market. And we haven&#8217;t yet witnessed that.\u00a0<\/span><\/p><h2><span style=\"color: #000000;\"><b>Overall Status of the Us Stock&#8217;s Market<\/b>\u00a0<\/span><\/h2><p><span style=\"color: #000000;\">The S&amp;P 500 (.SPX) dropped 7.21 points, or 0.16%, to 4,507.66, the Dow Jones Industrial Average (.DJI) dropped 168.33 points, or 0.48%, to 34,721.91, and the Nasdaq Composite (.IXIC) gained 15.66 points, or 0.11%, to 14,034.97. \u00a0<\/span><\/p><p><span style=\"color: #000000;\">As dropping consumer goods and luxury equities countered rising banking and real estate companies, European shares reversed earlier advances to end lower. Both the global MSCI stock index (.MIWD00000PUS) and the pan-European STOXX 600 index (.STOXX) saw losses.\u00a0<\/span><\/p><h2><span style=\"color: #000000;\"><b>Greenback Advances<\/b>\u00a0<\/span><\/h2><p><span style=\"color: #000000;\">Stocks in emerging markets fell by 0.84%. While Japan&#8217;s Nikkei (.N225) surged 0.88%, MSCI&#8217;s broadest index of Asia-Pacific equities outside of Japan (.MIAPJ0000PUS) finished 0.38% down. \u00a0<\/span><\/p><p><span style=\"color: #000000;\">Following U.S. economic statistics, the dollar strengthened versus a basket of other currencies, while the euro declined as a result of cautionary remarks made by a prominent hawk at the European Central Bank. \u00a0<\/span><\/p><p><span style=\"color: #000000;\">The euro fell 0.74% to $1.0843 while the dollar index (.DXY) increased by 0.42%. At 145.50 per dollar, the Japanese yen gained 0.53% against the US dollar, while sterling was last down 0.39% on the day at $1.2669.\u00a0<\/span><\/p><h2><span style=\"color: #000000;\"><b>U.S. Bonds<\/b>\u00a0<\/span><\/h2><p><span style=\"color: #000000;\">After data confirmed expectations that the Fed will maintain interest rates constant in September, U.S. Treasury yields declined in volatile trade. The yield on benchmark 10-year notes recently increased by 5\/32 to 4.0984% from 4.118% late on Wednesday. The 30-year bond&#8217;s price recently increased 14\/32 to increase its yield from 4.228% late on Wednesday to 4.2023%.\u00a0<\/span><\/p><h3><span style=\"color: #000000;\"><b>Commodity Stock Market Changes<\/b>\u00a0<\/span><\/h3><p><span style=\"color: #000000;\">Oil prices increased as a result of a reduction in U.S. inventories and production curbs by the OPEC+ group of oil-producing countries. U.S. crude increased by 2.45% to conclude at $83.63 a barrel, while Brent increased by 1.16% to close at $86.86 per barrel. Following the release of the PCE data, gold prices declined somewhat relative to the dollar. Gold&#8217;s spot price fell 0.1% to $1,939.84 per ounce.\u00a0<\/span><\/p><h2><span style=\"color: #000000;\"><b>Bottom Line<\/b>\u00a0<\/span><\/h2><p><span style=\"color: #000000;\">According to <span class=\"ui-provider en bkb bkc bkd bke bkf bkg bkh bki bkj bkk bkl bkm bkn bko bkp bkq bkr bks bkt bku bkv bkw bkx bky bkz bla blb blc bld ble blf blg blh bli\" dir=\"ltr\">Refinitiv\u00a0<\/span> data, Investors are anticipating the release of the August employment data on Friday morning, which will help inform the Fed&#8217;s upcoming change in monetary policy. According to Refinitiv data, economists anticipate the creation of 170,000 new jobs and the maintenance of the 3.5% unemployment rate this month. \u00a0<\/span><\/p><p><span style=\"color: #000000;\"><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/efimarkets.com\/\">The stock market<\/a> <\/span>lost money in August, although it narrowed its worst losses since the middle of the month. The S&amp;P 500 lost 1% towards the end of the month. In August, the Dow and Nasdaq Composite fell by around 2%.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>On the last trading day of August, Wall Street lost some of its early enthusiasm and the dollar rose as investors shifted their attention to Friday&#8217;s important jobs report and the widely anticipated inflation data failed to provide many shocks.\u00a0 The Three Major Indexes : US stocks The S&amp;P 500 followed the Dow in the &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/bhimmarkets.com\/blog\/us-stocks-mixed-as-market-looks-ahead-to-jobs-data\/\"> <span class=\"screen-reader-text\">US stocks mixed as market looks ahead to jobs data<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[12],"tags":[14],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US stocks mixed as market looks ahead to jobs data -<\/title>\n<meta name=\"description\" content=\"US stocks experienced a mixed performance as 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