- S & P 500 and Dao Jones barely moved on Wednesday. At the same time Nasdak Positive, with an increase of 0.4 % for the session. The main economic news for this day was to issue the ADP private employment report, which witnessed the US economy adding only 37,000 jobs in May.
In May, the private sector jobs report threw a shadow of market movements on Wednesday. Or better than that – its absence.
Before opening the market, I issued ADP to it Monthly analysis From the state of the American labor market. In May, the United States added only 37,000 jobs. Such a low number motivated fears that the ongoing trade war has recently begun to influence the difficult data of the economy.
The May report was much lower than analysts’ expectations that expected about 110,000 jobs and April number that was revised to 60,000. The frequency of employment was the lowest level seen since March 2023, ADP said.
However, any impact on the job report on the stock market was steadfast. The S&P 500 increased slightly, with 0.01 % closed. The Nasdaq compound had a little better session, as it was closed by a respectable 0.32 %. Meanwhile, Dow Jones was the main indicators that closed negativity on Wednesday. On the market, it ended 0.22 %. Throughout the day, there was some diverse cutting in the garden inside the day, but nothing would disturb investors who were not trading today.
Whether the ADP jobs in May are the expected hiccups after weeks of turmoil or a much wider segment, the main question will be the main question. A large part of this answer can come on Friday when the work statistics office issues its monthly report for non -agricultural salary lists.
“The surprise of the negative aspect today can raise more eyebrows than usual,” wrote the administrative director of trade in trade and investment in a note. “Some of the slowdown in the tariff in the labor market is expected, and the question is how important this is, and how the markets will respond. This month can start providing some answers.”
Elsewhere in the market, the other Bitcoin and The US dollar fell. The cryptocurrency, mockery and US dollar index fell 0.3 % and 0.4 %, respectively, on Wednesday.
The US dollar in particular continued a week -long chip. Many of Greenback declined It can be attributed to the erosion of the investor’s confidence because the United States has carried out the customs tariff for almost all its commercial partners. Entities and beginnings of President Donald Trump’s policy, in which he temporarily stopped and tempted it regularly, only to confusion For investors.
Since the beginning of the year, the US dollar decreased by 9 %. The expectations for the rest of the year have not seen a major change in the path. Throughout Wall Street, the number of investors who occupy bear positions against the dollar has grown. No sign of slowdown appears based on the current path of the currency.
This story was originally shown on Fortune.com
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