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Wall Street with slight rise awaiting the US employment report

Wall Street with slight rise awaiting the US employment report

The potentially biggest news that could move the market comes on Friday when the US government releases the May jobs report.

France’s CAC 40 rose 0.2% and Britain’s FTSE 100 and Germany’s DAX rose 0.4% each.

Reuters

Wall Street struggles to move into positive territory, a day after markets were once again driven to records by the fever around technology artificial intelligence.

The Dow Jones Industrial Average rose 0.2%, the S&P 500 fell 0.7% and the Nasdaq fell 0.2%. Notably, Lululemon Athletica jumped more than 9% pre-market after the yoga and athletic apparel maker surpassed market sales and profit targets in a better-than-expected first quarter.

Wall Street: waiting for key data

The potentially biggest news that could move the market comes on Friday when the US government releases the May jobs report. Labor market has held up better than expected amid higher interest rates imposed by the Federal Reserve in its effort to reduce inflation. However, some weakness has been evident in recent data, including a report this week that showed job openings in April They fell to their lowest level since 2022.

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Reuters

The Fed keeps a close eye on the labor market and wages as it considers whether to cut, raise or leave its benchmark interest rate unchanged. lhe Fed meets next week and most analysts expect the US central bank to keep rates unchanged for the seventh consecutive time.

In Europe at midday, the market gave back some of its early gains after the European Central Bank cut its key interest rate. France’s CAC 40 rose 0.2% and Britain’s FTSE 100 and Germany’s DAX rose 0.4% each.

Source: Ambito

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