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U.S. stocks continue to grow significantly, favoring "appropriate temperature" employment statistics


[4th Reuters]-US stock market continued to grow significantly. The S & P 500 was the first day since August 16th. The US employment statistics for September announced in the morning became “Goldilocks (suitable temperature)” and the US recession

[4th Reuters]-US stock market continued to grow significantly. The S & P 500 was the first day since August 16th. The US employment statistics in September announced in the morning became “Goldilocks” (appropriate temperature), and concerns about recession in the US retreated.

Employment statistics showed that the number of employees in the non-agricultural sector increased by 136,000 from the previous month, which was a moderate increase and fell below market expectations. On the other hand, the unemployment rate dropped from 3.7% last month to 3.5%, the lowest level in about 50 years since December 1969. [nL3N26P2ML]

Sean Snyder, head of investment strategy at Citi Personal Wealth Management, said, “Employment statistics were Gordilocks. Labor is not strong enough to discourage the Federal Reserve from slashing rate cuts within the month. It was not weak enough to raise concerns over the situation and personal consumption. "

The rate of US interest rate cut in October, which is factored into the market, is 77.5%. It rose from 40% at the beginning of the week.

On a weekly basis, the Dow average fell 0.9%, while the S & P 500 fell 0.3%. Nasdaq overall rose 0.5%. The Dow Average and S & P 500 have been declining for three consecutive weeks.

Apple bought and led the rise of high-tech stocks. Apple finished 2.8% higher. The media reported that the production of three new iPhone models up to the end of 19 years was revised upward by about 10%. [nT9N26N00K]

S & P information technology is up 1.7%, and Philadelphia Semiconductors is up 1.9%.

S & P finance rose 1.9%.

On the other hand, HP maker's HP ink is 9.6% cheaper. As part of the restructuring plan, the company announced a policy of reducing personnel by up to 16%. Personnel and non-personnel expenses associated with the restructuring are expected to be approximately $ 1 billion. [nL3N26P052]

On the New York Stock Exchange, the number of stocks with rising prices declined and exceeded the number of stocks with a ratio of 3.12: 1. Nasdaq also had a large number of issues with a drop of 2.26 to 1.

The trade is thin, and the total amount calculated by the US exchange is 5.9 billion shares. The average for the last 20 business days is 7.3 billion.

(Please see S & P Sector Index in related content; provisional value based on refinitive data. May not match the previous day)

Source: asahi

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