US stocks surge after jobs data takes pressure off of interest rates
US stocks surged on Tuesday after new jobs data showed a decline in job openings, potentially easing wage pressures and giving the Federal Reserve room to adjust interest rates.
Topics
Posted 8/29/2023, 8:16:00 PM
businessinsider.com
Relevant topic timeline:
U.S. stock futures rise as Wall Street attempts to build momentum following positive sessions for Nasdaq Composite and S&P 500.
U.S. stocks rose sharply as investors anticipated strong quarterly results from Nvidia and looked ahead to the Jackson Hole conference, with tech stocks expected to rally further.
U.S. stocks opened higher following the Dow Jones Industrial Average's recovery from its worst day in five months as investors awaited Federal Reserve Chairman Jerome Powell's speech at Jackson Hole.
Stocks anticipate Friday's jobs data report, China's economic situation worsens, and oil demand is under pressure due to elevated interest rates and the threat of Tropical Storm Idalia.
Stocks rise as markets shift focus from the Federal Reserve to corporate and economic reports, with the S&P 500 and Dow Jones Industrial Average both experiencing gains, while investors await upcoming economic data and inflation updates.
Chinese stocks initially surged on Monday after the government implemented measures to boost investor confidence, but most of the gains were lost by the end of the session due to concerns about the country's economic slowdown and the foreign outflow of funds.
Stocks gained momentum on Tuesday as new data pointed to a cooling labor market, with the S&P 500 and Dow Jones Industrial Average rising, bolstered by a decrease in job openings and a reversal in consumer confidence. The Nasdaq Composite led the gains, while the upcoming key reports on inflation and payrolls will likely shape investors' expectations for the Federal Reserve's interest rate decisions.
Buyers returned to the stock market after positive data on the U.S. jobs market suggested that wage inflation may decrease further, with Microsoft stock showing promising signs in forming a new base, while China's PDD Holdings experienced a significant gain amid hopes of government measures to stimulate economic activity. Additionally, megacap tech stocks led a broad rally in the stock market, with the Nasdaq composite rising 1.7%, and there is anticipation of a potential increase in the overnight fed funds rate and a rise in bond yields.
U.S. stocks were higher on Wednesday, although the gains were smaller compared to the previous day, as market participants received a cooling labor market update and a downward revision to Q2 economic growth.
Salesforce shares surged 6% in after-hours trading as the company exceeded Wall Street's expectations with strong quarterly results and increased guidance, driven by growth in all product categories and a focus on artificial intelligence.
Wall Street stocks opened higher as new data showed easing inflation, boosting the Dow Jones and S&P 500, with investors taking heart from signs of a soft landing for the US economy.
U.S. stock futures rise ahead of inflation and jobs data, with the key jobs report on Friday being the main focus for investors as they assess the possibility of interest rate changes.
U.S. stocks rose after August jobs data showed a slowdown in the pace of job gains, calming investor concerns about the Federal Reserve raising interest rates, with the Dow Jones Industrial Average rising 0.5%, the S&P 500 up 0.4%, and the Nasdaq Composite gaining 0.3%.
Chinese stocks surged as the government implemented additional measures to support the property sector, signaling a determination to boost the economy by addressing issues in the struggling housing market.
European stock markets open higher as weak US jobs data raises expectations that the Federal Reserve will halt interest rate hikes.
Stocks in Asia rose as investors were encouraged by a report indicating a cooling US jobs market, potentially leading to a slowdown in the Federal Reserve's campaign to raise interest rates and slow the economy.
US stocks dropped on Wednesday as fears of more Federal Reserve rate hikes circulated, with Big Tech names like Apple and Nvidia dragging major indexes lower. Boston Fed President Susan Collins warned that further policy tightening could be warranted, while the Fed's Beige Book indicated softer activity growth and a cooling labor market in July and August.
Stocks rose on Friday as the Nasdaq rebounded from Apple's recent slide, fueled by speculation that the Federal Reserve may not raise interest rates in September, while concerns about rising energy prices and Apple's market value decline continue to linger.
U.S. stocks rebounded as the week closed, with tech-heavy Nasdaq Composite and benchmark S&P 500 both up 0.1%, as concerns about higher interest rates were balanced by elevated oil prices and mixed economic data.
US stocks rose as the dollar fell, with technology stocks leading the way, and Treasury Secretary Janet Yellen expressing optimism about a potential soft landing in the economy.
Wall Street stocks surged on Monday as positive Chinese data and optimistic remarks from Treasury Secretary Janet Yellen boosted confidence in the global economy.
Wall Street stocks rose on Thursday as investors analyzed strong retail sales and wholesale price inflation data to gauge the Federal Reserve's stance on interest rates.
Stocks rise as reports suggest the US economy is strong, but inflation remains a concern.
Stocks surged as the Dow Jones Industrial Average rose, driven by strong performances from Goldman Sachs, Caterpillar, and Arm, while the tech-heavy Nasdaq and the S&P 500 also saw gains; strong consumer data and positive economic indicators contributed to the market's optimism.
US stocks opened lower on Friday after failing to build on a Thursday rally, as concerns about the world's second-largest economy and a historic strike by the United Auto Workers union weighed on investor sentiment.
Stocks mostly lower as investors await Federal Reserve's interest rate decision and assess new economic data showing easing core inflation and a cooling labor market, with expectations high for the Fed to hold rates steady.
U.S. stocks were lower on Tuesday as oil prices and bond yields rose ahead of the Federal Reserve's interest rate decision, with investors watching for guidance on future rate hikes and inflation threats.
U.S. stocks fell and Treasury yields surged ahead of the Federal Reserve's interest rate decision, while Instacart shares surged 12% on their first day of trading on the Nasdaq.
US stock futures rise as investors await Fed decision on rates; US debt rises to $33 trillion as government shutdown looms; Federal Reserve expected to pause rate hikes; Impact of government shutdown, autoworkers strike, and rising oil prices on the economy; Biden reshapes the Federal Reserve.
US stocks slumped as investors prepare for the Federal Reserve's upcoming interest rate decision, with all three benchmark indexes ending the day lower.
US stocks traded higher on Friday as the S&P 500 and Nasdaq Composite recovered from recent declines, but they are still on track for a third-straight weekly decline due to rising bond yields and a stronger dollar following the Federal Reserve meeting.
US stocks are slightly higher on Friday but are on track for a losing week due to a spike in bond yields and surging oil prices.