HomeFinancial MarketsStocks Close Mixed Following Unexpected Jobs Data

Stocks Close Mixed Following Unexpected Jobs Data

Stocks ended the week mixed after the release of August’s jobs report. According to the data from the Bureau of Labor Statistics, US unemployment rose to 3.8% in August, above an expected 3.5%. Still, 187,000 new jobs were added last month, beating a forecast of 170,000.

While the Nasdaq Composite Index rose earlier in the day, it retreated to end the first day of the new month flat. The S&P 500 carved out a slender gain of 0.2%, while the Dow Jones Industrial Average managed to rise over 0.3%. Still, each major index suffered losses for the month of August.

The latest jobs data appears to come as little surprise to the Federal Reserve, according to the words of Fed Chair Jerome Powell. “We expect this labor market rebalancing to continue,” Powell explained at the Jackson Hole Economic Symposium last week. “Evidence that the tightness in the labor market is no longer easing could also call for a monetary policy response.”

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...

iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in...