• About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, September 24, 2023
Earth-News
  • Home
  • Business
  • Entertainment
    Photos from Brian Austin Green and Sharna Burgess’ Cutest Photos

    Photos from Brian Austin Green and Sharna Burgess’ Cutest Photos

    Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

    Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

    How Dwyane Wade Told Gabrielle Union About Baby With Another Woman

    How Dwyane Wade Told Gabrielle Union About Baby With Another Woman

    Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

    Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

    Kelly Clarkson’s Daughter River Makes Cameo on “You Don’t Make Me Cry”

    Kelly Clarkson’s Daughter River Makes Cameo on “You Don’t Make Me Cry”

    Zhao Lusi in Milan for fashion week

    Zhao Lusi in Milan for fashion week

  • General
  • Health
  • News
    Behind the Success: Decoding Mobinil’s Community-Focused Marketing

    Behind the Success: Decoding Mobinil’s Community-Focused Marketing

    Egyptian University Student Develops ‘Egypt Metro’ App for Seamless Navigation

    Egyptian University Student Develops ‘Egypt Metro’ App for Seamless Navigation

    Banque Misr to launch green investment fund in 2024

    Banque Misr to launch green investment fund in 2024

    Egypt, Greece, and Cyprus stress coordination on gas, regional issues

    Egypt, Greece, and Cyprus stress coordination on gas, regional issues

    Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times

    Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times

    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Tech
    Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

    Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

    Huawei unveils large language model for the automotive industry

    Huawei unveils large language model for the automotive industry

    Tencent Games launches High Energy Heroes, a rebranded Apex Legends

    Tencent Games launches High Energy Heroes, a rebranded Apex Legends

    TikTok launches a new feature to label AI-created content

    TikTok launches a new feature to label AI-created content

    MediaTek’s Dimensity 7200-Ultra debuts in the Redmi Note 13 Pro +

    MediaTek’s Dimensity 7200-Ultra debuts in the Redmi Note 13 Pro +

    In 50 Words: Campus 365 looks to triple revenue to $1m

    In 50 Words: Campus 365 looks to triple revenue to $1m

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Photos from Brian Austin Green and Sharna Burgess’ Cutest Photos

    Photos from Brian Austin Green and Sharna Burgess’ Cutest Photos

    Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

    Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

    How Dwyane Wade Told Gabrielle Union About Baby With Another Woman

    How Dwyane Wade Told Gabrielle Union About Baby With Another Woman

    Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

    Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

    Kelly Clarkson’s Daughter River Makes Cameo on “You Don’t Make Me Cry”

    Kelly Clarkson’s Daughter River Makes Cameo on “You Don’t Make Me Cry”

    Zhao Lusi in Milan for fashion week

    Zhao Lusi in Milan for fashion week

  • General
  • Health
  • News
    Behind the Success: Decoding Mobinil’s Community-Focused Marketing

    Behind the Success: Decoding Mobinil’s Community-Focused Marketing

    Egyptian University Student Develops ‘Egypt Metro’ App for Seamless Navigation

    Egyptian University Student Develops ‘Egypt Metro’ App for Seamless Navigation

    Banque Misr to launch green investment fund in 2024

    Banque Misr to launch green investment fund in 2024

    Egypt, Greece, and Cyprus stress coordination on gas, regional issues

    Egypt, Greece, and Cyprus stress coordination on gas, regional issues

    Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times

    Nakhla Gift Shop at Grand Egyptian Museum listed as one of world’s best by Financial Times

    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

    Former Egyptian Finance Minister Youssef Boutros-Ghali joins Concord International Investment Group

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Tech
    Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

    Chinese tech firm Zhipu AI reportedly acquires AI startup Ling Xin Intelligence

    Huawei unveils large language model for the automotive industry

    Huawei unveils large language model for the automotive industry

    Tencent Games launches High Energy Heroes, a rebranded Apex Legends

    Tencent Games launches High Energy Heroes, a rebranded Apex Legends

    TikTok launches a new feature to label AI-created content

    TikTok launches a new feature to label AI-created content

    MediaTek’s Dimensity 7200-Ultra debuts in the Redmi Note 13 Pro +

    MediaTek’s Dimensity 7200-Ultra debuts in the Redmi Note 13 Pro +

    In 50 Words: Campus 365 looks to triple revenue to $1m

    In 50 Words: Campus 365 looks to triple revenue to $1m

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Market Snapshot: Stocks turn lower, S&P 500 heads for fourth straight day of losses

August 4, 2023
in Business
Market Snapshot: Stocks turn lower, S&P 500 heads for fourth straight day of losses
Share on FacebookShare on Twitter

U.S. stocks fall Friday afternoon, with the S&P 500 on track for a fourth straight day of losses, as investors parsed the July jobs report from the Department of Labor along with Big Tech earnings from Amazon and Apple. All three major indexes were heading for weekly losses heading toward the closing bell.

Table of Contents

  • How stock indexes are trading
  • What’s driving markets
  • Companies in focus

How stock indexes are trading

The Dow Jones Industrial Average
DJIA
fell 173 points, or 0.5%, to 35,040.

The S&P 500
SPX
shed 26 points, or 0.6%, to around 4,475.

The Nasdaq Composite
COMP
slipped 57 points, or 0.4%, to 13,902.

For the week, the Dow was on track to fall 1.1%, the S&P 500 was on pace to decline 2.2% and the Nasdaq was heading for a 2.7% drop, FactSet data show, at last check.

What’s driving markets

Stocks fell Friday afternoon, giving up earlier gains after the latest labor-market report showed the U.S. economy continued to create jobs in July while average hourly earnings rose.

The U.S. economy added 187,000 jobs last month, with the unemployment rate falling to 3.5% from 3.6% in June, according to a report Friday from the Bureau of Labor Statistics. The report also showed average hourly earnings rose 0.4% in July, up 4.4% over the past 12 months.

Last month’s wage growth was slightly higher than expected, while the number of jobs created was a bit softer than the 200,000 anticipated by Wall Street analysts.

The jobs report was “pretty benign,” being neither too hot nor too cold, said Randy Frederick, Charles Schwab’s managing director of trading and derivatives, in a phone interview Friday. “Recession seems highly unlikely in 2023,” while traders, after digesting the employment data, still expect the Federal Reserve to hold interest rates steady at its meeting next month, he said.

Slowing job growth may bolster hopes that the Fed’s rate hikes could succeed in cooling the economy — and inflation with it — without leading to a hard landing.

However, many economists and analysts flagged the slightly hotter-than-expected wage growth in July as a potential sticking point for the Fed. The annualized 4.4% rise is well above the Fed’s target of 2% inflation, said Bankrate senior economic analyst Mark Hamrick, in emailed commentary Friday.

Adam Farstrup, head of the multi-asset team for the Americas at Schroders, said by phone Friday that his base case is for a “soft landing” for the U.S. economy, but he’s monitoring wage growth and a recent rise in oil prices
CL00,
+1.28%
as possible sources for a potential second round of inflation.

Read: Oil scores 6th straight weekly rise after supply cuts

Investors will get a reading on July inflation next week, with monthly data from the consumer-price index due out on Aug. 10.

Meanwhile, Treasury yields dropped after the jobs report. The yield on the 10-year Treasury note
BX:TMUBMUSD10Y
fell 12.8 basis points Friday to 4.06%, its largest daily decline since early May based on 3 p.m. Eastern Time levels, but remained up for the week, according to Dow Jones Market Data.

Investors also continued to digest quarterly earnings results, including reports from Big Tech companies Apple Inc.
AAPL,
-4.80%
and Amazon.com
AMZN,
+8.27%
after the market’s close on Thursday. Amazon was the best-performing stock in the S&P 500 on Friday afternoon, up more than 9%, while shares of Apple fell more than 4% to become the biggest loser in the Dow, according to FactSet data, at last check.

“Apple is probably getting beaten up because its guidance was not spectacular,” said Charles Schwab’s Frederick. Overall, earnings season for the second quarter “started off really good and it’s not so great now.”

With the vast majority of companies now having reported their results, overall earnings growth has recently fallen below expectations for the period, dropping more than anticipated year over year, he said. Analysts are expecting the second quarter to be this year’s quarterly earnings trough, according to Frederick.

The S&P 500 is up almost 17% so far this year, according to FactSet data, at last check.

“To see further upside in the equity market, we do think you would have to see much greater optimism about the path of earnings” in the third and four quarters, said Schroders’s Farstrup. As for buying opportunities, “the cyclical areas are really what we are most interested in,” he said, pointing to financials and industrials as examples.

Companies in focus

Apple Inc.
AAPL,
-4.80%
shares fell after the consumer-technology behemoth reported a third-straight quarter of declining sales.

Amazon.com Inc.
AMZN,
+8.27%
shares jumped after the company reported quarterly profit that beat expectations.

Icahn Enterprises L.P.
IEP,
-23.23%
shares plunged after the company said it’s cuttings its quarterly distribution to $1 from $2.

Tupperware Brands Corp.
TUP,
+35.51%
saw another huge pop on Friday after announcing a debt-restructuring agreement late Thursday.

Shares of Nikola Corp.
NKLA,
-26.36%
sank after the electric-vehicle maker beat Wall Street expectations for second-quarter losses and revenue, but slashed its full-year outlook.

Steve Goldstein contributed to this article.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MarketWatch – http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7241-5906E04B9F10%7D&siteid=rss&rss=1

Tags: businessMarketsnapshot
Previous Post

The Moneyist: My sibling ‘borrows’ hundreds of thousands of dollars from our parents. Should I take my inheritance now before it’s too late?

Next Post

Futures Movers: Oil scores 6th straight weekly rise after supply cuts

Photos from Brian Austin Green and Sharna Burgess’ Cutest Photos

Photos from Brian Austin Green and Sharna Burgess’ Cutest Photos

September 24, 2023
Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

September 24, 2023
How Dwyane Wade Told Gabrielle Union About Baby With Another Woman

How Dwyane Wade Told Gabrielle Union About Baby With Another Woman

September 24, 2023
Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

September 24, 2023
Kelly Clarkson’s Daughter River Makes Cameo on “You Don’t Make Me Cry”

Kelly Clarkson’s Daughter River Makes Cameo on “You Don’t Make Me Cry”

September 24, 2023
Zhao Lusi in Milan for fashion week

Zhao Lusi in Milan for fashion week

September 24, 2023
Esther Yu at fashion event in Milan

Esther Yu at fashion event in Milan

September 24, 2023
Ma Sichun at brand event in Milan

Ma Sichun at brand event in Milan

September 24, 2023
Sen. Bob Menendez “Not Going Anywhere” Despite Growing Calls from Top Democrats to Resign

Sen. Bob Menendez “Not Going Anywhere” Despite Growing Calls from Top Democrats to Resign

September 23, 2023
Russell Brand Would Allegedly Scout TV Show Audience For Women: Report

Russell Brand Would Allegedly Scout TV Show Audience For Women: Report

September 23, 2023
Partenaires
afric.info
europ.info
usa-news
lesmeilleureschaussures.fr
goodsforyoutoday.com
looktopbeauty.com
keto-diet.biz
soccernews.info
nba-news.net
sportsprblog.com compar.biz
the-best.top
bestchoices.biz
expert-plus.fr
travel-mag.info
pksportsnews.com
news-sports.org

Categories

Archives

September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (3,377)
  • Entertainment (3,433)
  • General (2,463)
  • Health (1,637)
  • News (3,874)
  • Science (2,657)
  • Sports (3,583)
  • Tech (2,625)

Recent News

Photos from Brian Austin Green and Sharna Burgess’ Cutest Photos

Photos from Brian Austin Green and Sharna Burgess’ Cutest Photos

September 24, 2023
Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

Rami Malek and Emma Corrin Confirm Their Romance With a Kiss

September 24, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version

Market Snapshot: Stocks turn lower, S&P 500 heads for fourth straight day of losses- https://news7.asia/   https://www.animaleries.info   https://www.comptoirdubagage.biz/   https://www.wa-news.com/   https://www.magasinjouet.net/   https://teenoi.net   https://paschers.info   https://www.1nfo.net   -/- J’ai encore menti !   Bensimon femme Sport Bag Sac bandouliere Orange (Coquelicot)   Asus ExpertCenter PB63: 1.35 liter mini PC debuts with support for 65 W Intel processors   Wimbledon 2023: British number one Cameron Norrie beats Tomas Machac to reach round two   Douyin Boosts Self-Operated E-Commerce with Launch of ‘Imported Supermarket’   -*-$$Antoine Dupont blessé : le capitaine du XV de France a été opéré et va pouvoir rejoindre les Bleus   Lampe de Scène, Lumière Fête 9W 9 couleurs Éclairage Soirée Boule Disco Avec Bluetooth Président sans fil de connexion…   Honte à l’“anti-rugby” de l’Angleterre, et vive les flamboyants “petits poucets”   Stormsure Stormproof Durable Hydrofuge (spray étanche) – 1L   Meilleurs choix d’appareils photo : Olympus OM-D E-M10 Mark II   $$* James Betterave Blanche It Betterave Organique 1L De Jus   Secret des Chefs Arome Naturel Grenadine 50 ml – Lot de 2   Market Snapshot: Stocks turn lower, S&P 500 heads for fourth straight day of losses *Market Snapshot: Stocks turn lower, S&P 500 heads for fourth straight day of losses