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Stock Market Update ?
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Stock Market Update - Current Stock Market Update
U.S. stocks closed near the flatline on Thursday as investors looked ahead to a key employment report.
"I think a large part of it is a good jobless claims number, which certainly gives more weight to tomorrow's jobs report," said Eric Wiegand, senior portfolio manager at the Private Client Reserve at U.S. Bank.
The Dow Jones industrial average closed about 10 points lower, with Wal-Mart and American Express contributing the most losses. The S&P 500 closed just above the flatline, with materials leading advancers and health care the top decliner. The Nasdaq composite dropped 0.17 percent, as the iShares Nasdaq Biotechnology ETF (IBB) fell more than 2 percent.
The three major indexes had traded further below the flatline earlier in the session, with the Dow falling 118.06 points at session lows.
The stock market and in this case the US indicies or DOW JONES has been going sideways for weeks now. We can still say the market is keeping afloat and not taking a PANIC ATTACK biscuit over interest rates, LOWER VIX and the brexit news that will come to the forefront next month! You can see the DOW has been treading water in between exactly 18000 and 18400 with the next move probably going to be significant!.
The Labor Department is scheduled to release its September jobs report on Friday, with economists polled by Reuters expecting the U.S. economy to have added 175,000 jobs and unemployment holding steady at 4.9 percent.
"The market is processing the likelihood of a Fed rate hike. If you look at the yield curve, it's higher. I think investors looking for yield are reconsidering some of their holdings," said Kim Forrest, senior equity analyst at Fort Pitt Capital.
"We expect jobs growth to continue in health care, tech and finance," said Andrew Chamberlain, chief economist at Glassdoor, adding he expects the U.S. economy to have added 176,000 jobs last month. "The labor market is very strong. This is pretty unusual heading into an election." "Such low unemployment numbers are talking some of the most pessimistic talking points off the table."
The jobs report will come on the back of upbeat U.S. data released Wednesday, including the strongest print on the ISM non-manufacturing index for the year. On Thursday, weekly jobless claims fell to 249,000.
"A weak Jobs Report on Friday would erase any of the positive sentiment gained with yesterday's strong number," said Jeremy Klein, chief market strategist at FBN Securities.. - Source : Cnbc.
U.S. stocks closed near the flatline on Thursday as investors looked ahead to a key employment report.
"I think a large part of it is a good jobless claims number, which certainly gives more weight to tomorrow's jobs report," said Eric Wiegand, senior portfolio manager at the Private Client Reserve at U.S. Bank.
The Dow Jones industrial average closed about 10 points lower, with Wal-Mart and American Express contributing the most losses. The S&P 500 closed just above the flatline, with materials leading advancers and health care the top decliner. The Nasdaq composite dropped 0.17 percent, as the iShares Nasdaq Biotechnology ETF (IBB) fell more than 2 percent.
The three major indexes had traded further below the flatline earlier in the session, with the Dow falling 118.06 points at session lows.
The stock market and in this case the US indicies or DOW JONES has been going sideways for weeks now. We can still say the market is keeping afloat and not taking a PANIC ATTACK biscuit over interest rates, LOWER VIX and the brexit news that will come to the forefront next month! You can see the DOW has been treading water in between exactly 18000 and 18400 with the next move probably going to be significant!.
The Labor Department is scheduled to release its September jobs report on Friday, with economists polled by Reuters expecting the U.S. economy to have added 175,000 jobs and unemployment holding steady at 4.9 percent.
"The market is processing the likelihood of a Fed rate hike. If you look at the yield curve, it's higher. I think investors looking for yield are reconsidering some of their holdings," said Kim Forrest, senior equity analyst at Fort Pitt Capital.
"We expect jobs growth to continue in health care, tech and finance," said Andrew Chamberlain, chief economist at Glassdoor, adding he expects the U.S. economy to have added 176,000 jobs last month. "The labor market is very strong. This is pretty unusual heading into an election." "Such low unemployment numbers are talking some of the most pessimistic talking points off the table."
The jobs report will come on the back of upbeat U.S. data released Wednesday, including the strongest print on the ISM non-manufacturing index for the year. On Thursday, weekly jobless claims fell to 249,000.
"A weak Jobs Report on Friday would erase any of the positive sentiment gained with yesterday's strong number," said Jeremy Klein, chief market strategist at FBN Securities.. - Source : Cnbc.
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