Dow Jones, S&P 500, Nasdaq: US Job Market Weaker Than Expected – Wall Street Up
Rising energy prices and bond yields are not putting further downward pressure on stocks for now. But fewer new hires than expected are solidifying expectations of the Fed.
US stock market indexes rose on Wednesday, with Dow Jones up 0.5% to 53,004 points, S&P 500 up 0.4% to 7,664 points, and Nasdaq Composite up 0.4% to 26,186 points. The ADP survey reported that US private sector job growth slowed to 38,000 in August, below the 48,000 expected by Reuters experts. The US government will release its job report on Friday, with economists forecasting 56,000 new jobs. The Federal Reserve, led by Kevin Warsh, is closely monitoring the data to ensure full employment and stable prices.
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