Wall Street fell ahead of job report

After the winning streak earlier in the week, stock prices on Wall Street slowed down and fell back in anticipation of important labor market statistics.

» Published:

Wall Street fell ahead of job report
Photo: Paul Sancya/AP/TT

Share this article

What investors are waiting for on Friday are figures on how many jobs were created in the USA in November, excluding the agricultural sector.

This, in turn, provides an indication of whether the central bank, the Federal Reserve (Fed), will lower the interest rate or not at its meeting on December 17-18.

If the balance between the labor market and inflation is deemed sufficient, the chance of the Fed lowering the interest rate increases, which many investors are eagerly awaiting.

Analysts' forecasts predict that 214,000-215,000 new jobs were created and that the unemployment rate remains steady at 4.1 percent, according to Bloomberg.

Earlier in the week, prices in New York have risen, and risen, and risen. For three days in a row, the broad S&P 500 index and the Nasdaq composite index have closed at record levels.

But on Thursday, risk appetite suddenly decreased. Cautious uncertainty took over – possibly in anticipation of the labor market report.

The S&P 500 and the Nasdaq composite index fell 0.2 percent, and the Dow Jones industrial index 0.6 percent.

The rush in cryptocurrencies gained new momentum when financier and cryptocurrency advocate Paul Atkins was nominated as the new head of the US financial supervision SEC on Wednesday.

But after the bitcoin price peaked around $103,800, the curve also fell back. At 10:00 pm Swedish time on Thursday, one bitcoin cost $99,170.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Swedish Households Shift from Borrowing to Saving in New Ways

Swedish Households Shift from Borrowing to Saving in New Ways

German Investor Confidence Surges Unexpectedly in September

German Investor Confidence Surges Unexpectedly in September

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Stockholm Stock Exchange Opens with Slight Gains

Stockholm Stock Exchange Opens with Slight Gains

Gold Certificate Company Lists on Stockholm Stock Exchange

Gold Certificate Company Lists on Stockholm Stock Exchange

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Weakening Dollar: Key Considerations for Investors

Weakening Dollar: Key Considerations for Investors

Asian Stock Markets Rise Following Trump's Trade Talks Update

Asian Stock Markets Rise Following Trump's Trade Talks Update

Fed Member Lisa Cook Retains Position Amid Trump's Legal Challenge

Fed Member Lisa Cook Retains Position Amid Trump's Legal Challenge

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Agree on Tiktok Deal Framework

USA and China Agree on Tiktok Deal Framework

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Swedes Report Decreased Satisfaction with Banks This Year

Swedes Report Decreased Satisfaction with Banks This Year