At the wheel, meanwhile, the dow jones it fell 1.1%, and stood at 31,318 points; the S&P 500 it lost 1.1%, and reached 3,924 units; and the nasdaq fell 1.3%, to 11,630 units.
Despite the good data on employment, the Cooling of salary growth and the increase in the unemployment rate consolidated expectations that inflation may be giving way and renewed hope that the Federal Reserve Be less aggressive with interest rates.
The closely guarded labor report of work Department showed nonfarm payrolls rose by 315,000 jobs last month, versus expectations of 300,000. Average hourly earnings increased 0.3%versus estimates of 0.4%, and the unemployment rate advanced to 3.7% from the pre-pandemic low of 3.5%.
“The report was a step in the right direction, but it wasn’t a giant leap in that direction,” said Brian Jacobsen of Allspring Global Investments in Milwaukee, Wisconsin.
“So at the margin it shifts the balance towards a 50 basis point hike instead of 75, but the key will of course be the inflation data. That will probably decide whether it should be 50 or 75 basis points.” , he added.
Fears of aggressive monetary policy tightening have gripped Wall Street since Fed Chairman Jerome Powell made hawkish remarks last Friday about maintaining monetary policy “for some time.”and the S&P 500 has dropped 122 units since then.
Almost every sector in the S&P 500 fallswith a advance of 1.6% of energy valuesas oil prices gained more than 2% before the meeting of the OPEC+ to discuss production cuts. Banks improved, led by a 2.9% rise in Bank of America.
Source: Ambito
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