Wall Street hesitates before the market this Friday, in slight decline according to the first pre-session indications, confirming a difficult start to the year…
(Boursier.com) — Wall Street hesitates before the market this Friday, down slightly according to the first pre-session indications, confirming a difficult start to the year. The S&P 500 lost 0.1%. The Dow Jones and the Nasdaq are showing comparable declines… After having boosted the year 2023, the titles of the ‘Magnificent Seven’ are weighing on the American market this week, with in particular a return ofApple at the lowest of eight weeks following two downgrades of brokers… The latest solid American private employment figures, announced yesterday, were also differently appreciated, while operators will concentrate this Friday on the government report concerning the employment situation.
ADP’s latest report on US private employment shows 164,000 job creations for the month of December, compared to a FactSet consensus of 125,000 and a revised reading of 101,000 for the previous month. “We are returning to a labor market very much in line with pre-pandemic hiring levels. Although wages were not the cause of the recent surge in inflation, now that wage growth has “reduced, any risk of a wage-price spiral has practically disappeared”, judges Nela Richardson, chief economist at ADP. Job creation increased for the fourth consecutive month, thanks to strong growth in hiring in the leisure and hospitality sectors. Construction held up despite high interest rates, but the manufacturing industry continued to struggle, posting another month of losses. Small businesses with 1 to 49 employees created 74,000 jobs in December, while businesses with 50 to 249 employees created 58,000 positions. Companies with 500 people or more or generated 40,000 jobs.
The Challenger, Gray & Christmas study for December revealed announcements of layoffs affecting 34,817 jobs, compared to 44,510 a month earlier.
Unemployment claims fell more than expected last week in the United States. The US Department of Labor announced unemployment claims for the week ending December 30 at 202,000, down 18,000 from the previous week. The consensus was positioned at 216,000.
The final Markit US Composite PMI for December came in at 50.9, compared to the FactSet consensus of 51. The services index came out at 51.4, against the consensus 51.3. These indicators signal a slight expansion of activity in December.
This Friday, operators will follow American industrial orders (4 p.m., consensus +1.8%), the ISM for services (4 p.m., consensus 52.6), and especially the monthly government report on the employment situation for the month. of December (2:30 p.m., consensus 3.8% unemployment, 160,000 non-agricultural job creations – including 130,000 in the private sector -, +0.3% for the average hourly wage compared to the previous month).
Elsewhere in the world this morning, the Japanese services PMI for December was in expansion territory at 51.5. German retail sales, on the other hand, corrected much more than expected (-2% excluding adjustments and year-on-year for the month of November, -2.5% month-on-month and after adjustments). Preliminary figures for producer and consumer prices in the euro zone will be followed in an hour.