February 28, 2024
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Wall Street closed, affected by US employment data – international

The New York Stock Exchange closed slightly this Friday (8), hit by a disappointing report on employment in the United States.

The Dow Jones Industrial Average was down 0.03% at 34,746.25 points, while the Nasdaq index was down 0.51% at 14,579.53 points with strong technical content. 500, 0.19% to 4,391.34 points.

Throughout the day, investors decided on a monthly report on US employment released by the Department of Labor.

The United States created 194,000 jobs in September, cutting the employment rate to 4.8%, according to data released by the government this Friday.

Less jobs were created than expected, but the unemployment rate was much lower than analysts had predicted. The Department of Labor highlighted that employment in the pension and hotel sectors has increased, which has been greatly affected by Govt-19, but has declined in public education.

The market initially acted with heavy disappointment.

“Something strange happened,” JJ Kinahan, in charge of market strategy at DD Emirates, said in a statement.

“That’s why we didn’t see a bad reaction on Wall Street,” he said. He concluded that “no one understands” this figure in the Department of Education.

Leaving this academic data behind, JJ Ginahan said, “This is not a bad report.”

Among those values, ExxonMobil (+ 2.49% to $ 62.17) benefited from the new rise in oil prices and the overestimation of exploitative reserves in its sector in Guyana.