Wall Street welcomed September with mixed signs

Wall Street welcomed September with mixed signs
Wall Street welcomed September with mixed signs

Mixed signs on Wall Street as investors worry about the impact the Fed’s aggressive monetary policy will have on the US economy.

THE Dow Jones strengthened by 0.47% or 146 points to 31,657, o S&P 500 rose 0.30% to 3,966 units while o Nasdaq moved lower by 0.26% to 11,785 points.

In the industrial index, the biggest increase was registered by the shares of Merck & Co (+2.1%) and Johnson & Johnson (+2%) while the biggest drop was recorded by the securities of Boeing (-4.3%) and Salesforce (-2.2%).

In the meantime, the applications for unemployment benefits in the U.S. fell for a third week to a two-month low, suggesting healthy demand for labor despite subdued economic growth.

Unemployment claims decreased by 5,000 to 232,000 in the week ended Aug. 27, according to Labor Department data Thursday. The average estimate in a Bloomberg survey of economists was for 248,000 new applications.

In addition, the ISM manufacturing index it was unchanged at 52.8 points in August while analysts expected a drop to 51.8 points. It is noted that any measurement above 50 units indicates an expansion of the sector.

Alongside, the productivity of labor in enterprises (except agricultural sector) fell 4.1% in the second quarter of 2022, according to the Labor Department, as output fell 1.4% and hours worked rose 2.7%.

Meanwhile, unit labor costs rose 10.2% in the second quarter of 2022, reflecting a 5.7% increase in hourly compensation and a 4.1% decline in productivity.

In the bond market, the American returns as the 10-year rose six basis points to 3.26% and the 2-year strengthened by four basis points to 3.52%, a November 2007 high.

In the commodity market, its price of WTI crude “sunk” 3.3% to $86.61 and the price of gold moved lower by 1% to $1,709/oz.

In the foreign exchange market, the dollar It rose 1% against the euro to $0.9953.

The article is in Greek

Tags: Wall Street welcomed September mixed signs

PREV How the West Poisoned its Money
NEXT ERT Archive: Tribute to Manos Loizos, 40 years since his death