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U.S. stocks ended mixed after June hiring data came in well below expectations and prompted investors to dial back bets on a Federal Reserve interest-rate increase this month.
A weak jobs report met a strong Apple rally on Thursday. Here's why the major indexes couldn't agree on a direction.
The FTSE 100 closed up 174.53 points, 1.7%, at 10,652.87.
According to the Bureau of Labor Statistics, nonfarm payrolls in June increased by a seasonally adjusted 57,000.
Payrolls badly missed the 115,000 economists expected, and the unemployment rate's dip to 4.2% masked a shrinking labor force. Now it's Fed Chair Kevin Warsh's problem.
Stocks were up to start Thursday’s session after the unemployment rate fell unexpectedly in June. The Dow rose 370 points, or 0.7%. The U.S. economy added fewer jobs than economists expected in June, but unemployment dipped to 4.2%.
Investing.com - U.S. stock futures were mixed on Thursday as investors awaited a closely watched U.S. employment report that could help shape expectations for Federal Reserve interest rate policy in the months ahead.
A fourth straight month of gains above 100,000 would represent a run of job growth not seen since the start of 2024
If you think falling oil prices mark the end of Trump-driven inflation, you'll be sorely mistaken.
<body><p>STORY: U.S. stocks finished flat to slightly lower on Wednesday, with the Dow little changed, the S&P 500 down more than two-tenths of a percent and the Nasdaq sliding two-thirds of a percent.</p><p>Speaking at a European Central Bank panel in Portugal, U.S. Federal Reserve Chair Kevin Warsh said he will stick firmly to the central bank's 2% inflation target and "disappoint" anyone who expects loose monetary policy despite President Donald Trump's call for interest rate cuts.</p><p>But Brad Bernstein, managing director at UBS Private Wealth Management, doesn't think the Fed will hike rates this year either.</p><p>"One of the three reasons we think markets will be higher at the end of the year is because the Fed is not going to raise interest rates this year. // We think more likely they'll resume Fed cuts in the spring of next year. And today, Fed Chair Walsh said in Portugal that he has seen in the last four weeks expectations, inflation expectations continuing to get better because of the drop most likely he - didn't cite this - but most likely because oil has gone from 90 [dollars a barrel] to 70 and now under 70 today."</p><p>Among Wednesday's stock moves, technology shares fell, with the Philadelphia Semiconductor Index down more than 6%.</p><p>One tech outlier was Meta Platforms after Bloomberg News reported that it is building a cloud business to sell excess AI computing capacity.</p><p>Among the day's decliners, shares of Alcoa fell about 9% after Australia's South32 agreed to sell most of its aluminum assets to Alcoa.</p><p>The key monthly U.S. jobs report is due out on Thursday, while the market will be closed Friday ahead of the Fourth of July holiday.</p></body>
US stock futures slipped as investors braced for Thursday's release of the June jobs report.
US stock futures slipped as investors braced for Thursday’s release of the June jobs report.
Stocks fell as Meta buzz hit SpaceX, Micron and many AI stocks. Tesla is near a buy point with deliveries due. The June jobs report also is on tap.
U.S. stocks ended modestly lower after investors parsed comments from Federal Reserve Chairman Kevin Warsh for clues about the path of interest rates.
US equity indexes fell Wednesday as the technology sector paced declines and traders assessed Federa
Investing.com - U.S. stock futures pointed lower on Wednesday as investors awaited fresh remarks from Federal Reserve Chair Kevin Warsh and monitored uncertain peace talks between the United States and Iran.
The main US stock measures were pointing lower in Wednesday's premarket activity as traders await ke
Markets begin the second half cautiouslyUS stock futures traded lower on Wednesday ahead of the first session of the second half of the year, with investors preparing for comments from Federal Reserve Chair Kevin Warsh, fresh US manufacturing data and ongoing geopolitical developments in the Middle East. By 03:16 ET, Dow Jones futures were down 202 points, or 0.
Jerome Powell's successor removed something that Wall Street and investors have held near and dear since 2003.
U.S. stock futures were heading for losses to kick off the third quarter of the year. Markets are looking ahead to an appearance by Federal Reserve Chairman Kevin Warsh at a central-banking forum. Dow Jones Industrial Average futures were down 242 points, or 0.5%.
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