Wall Street awaits job figures

The movements on Wall Street were relatively small on Thursday. The investors are waiting for important American labor market statistics on Friday.

» Published: February 06 2025

Wall Street awaits job figures
Photo: Richard Drew/AP/TT

The broad S&P 500 index closed up 0.4 percent, the technology-heavy Nasdaq composite index rose 0.5 percent, while the Dow Jones industrial index fell 0.3 percent.

On Thursday, semiconductor companies Qualcomm and ARM stood out negatively with falls of 3.7 and 3.3 percent, respectively, in New York.

Even worse was the situation for industry colleague Skyworks Solutions, which plummeted 24.7 percent after releasing a quarterly report that was interpreted negatively.

Also, industrial conglomerate Honeywell International and car giant Ford had a tough day with large falls following their reports: minus 5.6 and 7.5 percent, respectively.

In the opposite direction, among others, tobacco giant Philip Morris rose 11.0 percent, following a strong report where both profit and revenue exceeded expectations.

Perhaps investors' risk appetite was curbed by the fact that an important labor market report is to be released at 14:30 Swedish time on Friday.

The report will show how many jobs were created in the US in January, excluding the agricultural sector. Forecasts suggest 169,000 new jobs, significantly fewer than the 256,000 added in December.

The number will be weighed in assessments of how high the pace and price increases are in the US economy as a whole, which in turn affects the willingness to change the interest rate.

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TTT
By TT - Translated and adapted by Sweden Herald

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