(CercleFinance.com) – Wall Street started the session off on the right foot, with the S&P500 (+0.5%) and the Nasdaq (+0.9%), up after an ADP report likely to argue for a policy less restrictive monetary policy from the Fed.
A sign of a clear economic slowdown, the private sector in the United States generated only 89,000 new jobs in September, largely missing expectations and returning to its weakest pace since January 2021, according to the monthly ADP survey.
‘In addition, we are seeing a firm decline in salaries over the last 12 months,’ says Nela Richardson, chief economist at this firm specializing in human resources management outsourcing.
On the statistics front, operators took note of industrial orders for the month of August, and especially the composite PMI and ISM services indices for September.
The American services sector saw its activity almost stagnate in September, given the PMI index calculated by S&P Global which ultimately stood at 50.1, compared to 50.2 in flash estimation and after 50.5 on last month.
After a decline of 2.1% in July, orders to American industry increased by 1.2% in August, according to figures published by the Department of Commerce.
On the stock side, Intel announces its intention to separate its programmable solutions activities (PSG), first by making it an autonomous activity from next January 1, then by listing it on the stock market over the next two to three years.
United Airlines will expand its 787 Dreamliner fleet, exercising options for 50 787-9 aircraft and obtaining 50 additional options, but has also placed an order for 60 additional A321neo aircraft.
In the case of the auto sector strike, Ford indicates that it has made a comprehensive offer to the UAW union, an offer which, according to it, includes ‘unprecedented improvements in wages and benefits’.
The biotechnology group Moderna reports positive interim results from the phase I/II trial for its mRNA-1083, an experimental combined vaccine intended for both influenza and Covid-19. ‘MRNA-1083 showed strong immunogenicity against influenza and Covid-19, with an acceptable reactogenicity and safety profile, compared to approved stand-alone vaccines,’ says the messenger RNA specialist.
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