For the second consecutive day an attempt to rebound in wall street was held back by investors’ economic concerns. The three main US indices fell on Wednesday for the fourth day, reversing a positive start to the session.
main index dow jones, made up of the shares of 30 industrial giants, is down 0.37% at 31,674.44 units. The S&P 500, of 500 shares, falls 0.31% to a level of 3,973.79 points. the technological nasdaq falls 0.32% to 11,845.05 units.
Prices remain under pressure on expectations that the Federal Reserve keep raising interest rates sharply to contain inflation. Weak data on private hiring casts doubt on the possibility and mitigates the movements.
According to the private payroll processor ADP, this sector of the US economy created 132,000 jobs in August, a figure well below market and analyst expectations of a generation of 288,000 jobs.
Investors, however, await the release of monthly nonfarm payroll data and the unemployment rate that could provide clues about the Fed’s next rate move. Bets are on 75 basis points after Jackson Hole.
Among the main subsectors of the S&P the red color predominates, while among the Dow Jones stocks there are 25 setbacks, led by Nikewith 1.58%, and five advances, led by the actions of the chain Walgreens Bootswith 1.65 percent.
Among the big tech Manzana Y microsoftwhich led the recovery attempt, remain in positive territory, with 0.09% and 0.02%, respectively, after an announcement by the also technological Snap (8.89%) announced a 20% cut in all its personnel.
The US stock market has been worried after Federal Reserve Chairman Jerome Powell said in Jackson Hole that rates will continue to rise for a while. The Nasdaq falls in the month more than 3 percent.
