Stock Market Today: Mixed Results as Labor Market Data Surfaces
Market Overview Amid Jobless Claims and Labor Data
US markets ended mixed on Thursday as investors digested new labor market data ahead of the pivotal August jobs report. The Dow Jones Industrial Average fell over 250 points, while the S&P 500 slipped less than 0.5%. On the other hand, the Nasdaq Composite inched higher in the session. Bond yields continued to tumble, furthering declines from earlier in the week.
Job Market Insights Affecting Investor Sentiment
The 10-year Treasury yield dipped three basis points to 3.731%. Investors are eagerly anticipating the August nonfarm payroll report, with markets on edge following data this week suggesting that the job market and economy may be slowing down. Private payrolls rose less than expected in August, with only 99,000 workers added compared to estimates of 140,000. This number also fell short of July's data, which recorded 111,000 new hires according to ADP.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.