(CercleFinance.com) – The New York Stock Exchange should open lower, according to futures on the S&P500 (-0.5%) and the Nasdaq-100 (-0.9%), following the publication of a report on employment rather likely to comfort the Fed in a rapid normalization of its monetary policy.
The U.S. economy added 372,000 nonfarm payrolls in June, according to the Labor Department, a number significantly above consensus, while the jobless rate held steady at 3.6%, as expected by economists. mean.
“We believe that non-agricultural employment will have increased by only 225,000 jobs, which would be the slowest monthly growth rate of employment in 18 months”, predicted this morning Deutsche Bank, which however hoped for a decline in the unemployment rate at 3.5%.
According to the report, the labor force participation rate remains lower than in February 2020, and the average hourly income increased at an annual rate of 5.1%. Finally, April and May job creations were revised for a total balance of -74,000.
In securities news, Wedbush lowered its price target from $54 to $43 on Twitter, to reflect what it sees as greater uncertainty looming over Elon Musk’s proposed takeover of the microblogging site.
Costco Wholesale unveiled Thursday evening a turnover of nearly 22.8 billion dollars for its month of June, an increase of 20.4% compared to the corresponding period of last year (+18.1 % on a comparable basis).
Copyright (c) 2022 CercleFinance.com. All rights reserved.