• By The Financial District

U.S. Stocks Fall Despite Positive Jobs Report

Stocks are opening lower on Wall Street Friday following much stronger than expected hiring data from the Labor Department.


Photo Insert: Stocks in the US fell in premarket trading after a hotter-than-expected report on hiring suggested the Federal Reserve will have to stay aggressive in its efforts to fight inflation.



The S&P 500 is off 0.8% at the opening bell and the Nasdaq is down by more than a percent. The Dow Jones industrials are also falling, the Associated Press (AP) reported on August 5, 2022.


Stocks in the US fell in premarket trading after a hotter-than-expected report on hiring suggested the Federal Reserve will have to stay aggressive in its efforts to fight inflation.



Futures on the S&P 500 fell 1% after being slightly higher just before the Labor Department released its latest employment figures, which showed a gain of 528,000 jobs, compared with an expectation for a gain of 250,000 jobs.


The Dow Jones Industrial Average fell 0.7% and the Nasdaq dropped 1.3%. Bond yields jumped, with the yield on the 2-year Treasury rising to 3.2%. The 10-year treasury yield rose to 2.81%. Markets in London, Paris, and Frankfurt were lower while Shanghai and Tokyo advanced. Oil prices fell back.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

In Asia, the Shanghai Composite Index advanced 1.2% to 3,227.03 and the Hang Seng in Hong Kong gained 0.1% to 20,201.94. The Nikkei 225 in Tokyo gained 0.9% to 28,175.897 after June labor cash earnings rose 2.2% over a year ago, though forecasters warned that strength was unlikely to last.


Much of the increase was due to half-yearly bonuses that are paid in June. The Kospi in Seoul added 0.7% to 2,490.80 and Sydney’s S&P ASX 200 advanced 0.6% to 7,015.60. India’s Sensex rose 0.1% to 58,381.11 after the Reserve Bank of India raised its benchmark interest rate by a half percentage point to 5.4%.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

New Zealand and Bangkok declined while Singapore rose. Jakarta advanced 0.4% after Indonesia’s economy grew by a stronger-than-expected 5.4% over a year earlier in the latest quarter.



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