NEW YORK, Sept 4 — The Nasdaq ended yesterday at a new peak but the other main Wall Street indexes fell, reflecting the mixed sentiment stemming from a disappointing US jobs report which raised fears about the pace of economic recovery but weakened the argument for near-term tapering.
“It’s the anti-Covid sector, where you want to be if you think Covid or a lack of growth is going to be an issue.” “You can tell because leisure and hospitality didn’t add any jobs and retail actually lost jobs. Investors will conclude that perhaps this will put the further on hold in terms of the timing of tapering. Markets may be okay with that.”
Among the biggest decliners on the S&P 500 were cruise ship operators, whose businesses are highly susceptible to consumer sentiment around travel and Covid-19. Norwegian Cruise Line Holdings, Carnival Corp and Royal Caribbean Cruises all fell between 3.4 per cent and 4.4 per cent. “I get the overall market reaction, because it feels a little bit like pricing in a potential policy error from the Fed, but I don’t understand some of the sectors’ reactions today,” said Boston Partners’ Mullaney.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500, Dow slip as monthly jobs growth slows; tech stocks lift Nasdaq | Malay MailNEW YORK, Sept 3 — The S&P 500 and the Dow fell today as a slowdown in US jobs growth raised questions about the pace of the economic recovery, while the tech-heavy Nasdaq jumped as the report also calmed fears of an imminent tapering in monetary policy. Eight of the 11 S&P sectors were...
Source: malaymail - 🏆 1. / 86 Read more »
Parang attack probe hits a wall as both victim and suspect refuse to talkKUALA LUMPUR: A foreigner has been severely injured after being slashed by a man, believed to be mentally unstable, near the Taman Sri Sentosa Community Hall here.
Source: staronline - 🏆 4. / 75 Read more »
S&P 500, Dow slip as monthly jobs growth slows; tech stocks lift Nasdaq | Malay MailNEW YORK, Sept 3 — The S&P 500 and the Dow fell today as a slowdown in US jobs growth raised questions about the pace of the economic recovery, while the tech-heavy Nasdaq jumped as the report also calmed fears of an imminent tapering in monetary policy. Eight of the 11 S&P sectors were...
Source: malaymail - 🏆 1. / 86 Read more »
Technology, energy stocks drive S&P 500 to record high | Malay MailSEPT 2 — The S&P 500 hit a record high today, boosted by gains in heavyweight technology and energy companies, as well as on hopes that the Federal Reserve will maintain an accommodative policy amid signs that economic recovery was slowing. The energy sector rose 2.9 per cent to lead early...
Source: malaymail - 🏆 1. / 86 Read more »
Bursa remains mixed at mid-afternoon | Malay MailKUALA LUMPUR, Sept 3 — Bursa Malaysia remained mixed at mid-afternoon with gains in selected heavyweights limiting losses amid the mixed performance seen in regional markets, dealers said. At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.89...
Source: malaymail - 🏆 1. / 86 Read more »
Apple bends, aiming to avoid Big Tech regulation | Malay MailWASHINGTON, Sept 3 — Apple has unveiled major changes to its app store after years of criticism, as the Silicon Valley colossus tries to stave off a deeper, swelling effort to regulate Big Tech, experts said Thursday. In a matter of days the company has announced long-demanded concessions after...
Source: malaymail - 🏆 1. / 86 Read more »