PARIS (Reuters) – The New York Stock Exchange opened in dispersed order on Friday after the publication of mixed data in the official report on the American employment market the day after an ADP survey on the subject showing strong job creations .
In early trading, the Dow Jones index lost 33.99 points, or 0.1%, to 33,888.27 points and the broader Standard & Poor’s 500 fell 0.04% to 4,409.77 points.
The Nasdaq Composite climbed 0.05%, or 15.947 points, to 13,689.60.
An hour before the opening of Wall Street, the US Department of Labor reported 209,000 non-farm payrolls in June in the United States against a Reuters consensus of 225,000. The unemployment rate remained stable, but the average hourly wage accelerated to 4.4% over one year.
On Thursday, the ADP employment survey showed a much more dynamic labor market than expected, rekindling fears of prolonged monetary tightening.
On the bond market, the yield on ten-year US Treasury bonds, volatile after the publication of the official employment report, tightened again, taking nearly three basis points to 4.0456%.
“The labor market is still strong, although it is becoming more marginal,” notes Brian Jacobsen, chief economist at Annex Wealth Management.
“Today’s figures confirm that the labor market is still strong…and this report gives the green light for the Fed to raise rates,” said Peter Cardillo, chief economist at Spartan Capital Securities.
The two-year yield, the most sensitive to changes in interest rates, fell more than five points, to 4.9396%, after hitting a 16-year peak on Thursday, at 5.12%.
In values, the maker of jeans Levi Strauss fell 7.83% after Thursday evening revised downwards its annual profit forecast in a context of rising costs.
Tesla takes 1.32% after the announcement of a new price cut for its electric vehicles in China.
Alibaba, whose subsidiary Ant Group was fined 7.12 billion yuan (902 million euros), takes 4.29%, investors especially retaining the prospect of the end of the investigation by the Chinese authorities .
(Written by Claude Chendjou, edited by Kate Entringer)
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