New York Stock Exchange News Overnight

This time, we will connect to Shinyoung Securities to find out about the New York Stock Exchange news overnight. Caster Ahn Ye-eun, please tell us.

Market Overview

The New York stock market closed mixed. The Dow and S&P 500 indexes closed down 0.5% and 0.3%, respectively, while the Nasdaq index closed up 0.2%. As the ’employment index’ and ‘service industry index’ sent mixed signals, the market also failed to show a clear direction.

Economic Indicators

Private sector employment, announced that day, increased by 99,000 from the previous month, significantly below market expectations. This is the lowest figure in three years, and has heightened concerns about an economic slowdown.

On the other hand, the August ‘Services Purchasing Managers Index’, which shows the performance of the U.S. service industry, was released with better results than market expectations.

Stock Performance

Looking at each stock, Tesla showed a sharp rise of 4% for two consecutive days. Tesla rose 4.9% after it announced it would launch its “fully autonomous driving software” in Europe and China next year.

Amazon also rose 2.6% and Nvidia rose 0.9%.

Upcoming Employment Numbers

The U.S. August employment numbers are due out tonight in our time. Last month, the US employment figures showed a sharp deterioration, which led to a ‘collaborative plunge’ in global stock markets in early August, so there is a lot of interest in the data that will be released tonight.

The market is expecting the ‘August unemployment rate’ to be announced at 4.2%, a slight decrease from the previous month, and the ‘new non-farm jobs’ to be announced at 165,000, an increase of 50,000 from the previous month.

This was Shinyoung Securities.

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