September 22, 2021

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Record S&P 500 and Nasdaq in Job Market Growth |  Financial issues

Record S&P 500 and Nasdaq in Job Market Growth | Financial issues

The Dow Jones closed 0.4% higher, the broad S&P 500 gained 0.3% and the Nasdaq rose 0.1%.

Investors are especially looking forward to tomorrow. The important US jobs report will be released on Friday. Labor market developments play an important role in the monetary policy of the Federal Reserve.

Claims for benefits last week were 340,000, while the average was estimated at 345 thousand. This is the lowest level since mid-March last year, before the Corona crisis hit the United States.

positive signal

If the labor market recovery weakens, the Federal Reserve may be more inclined to maintain economic stimulus programs.

On Wednesday, there were disappointing numbers from payroll processor ADP about job growth in the US business community.

Among the companies, the online retailer of pet food and accessories rubbery An astonishing 9.3% drop. Chewy released disappointing quarterly numbers and forecasts. ChargePoint has already gained 8.2%. The company, which is active in electric car charging stations, announced numbers that were well received by investors.

Didi Taxi loses app

Other companies that opened the books included a jewelry chain ring jewelry (+5.6%) Food Producer Hormel Foods (-4.6%) is a supplier of network equipment and software sinawhich rose 2.9%.

Chinese taxi app listed in New York Diddy Global It is set 4.2% lower. Didi, along with other Chinese internet companies, has been sued by Chinese authorities for illegal practices. The regulators accuse the companies of using unqualified drivers and vehicles.

Airline United Airlines It rose 1.2%. United has halted operations at the major Newark intersection in New Jersey due to flooding from the remnants of Hurricane Ida, according to CNN.

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