Article_Normal, Biotechnology, Healthcare/Life Sciences, Automobiles, Monetary Policy, Economic News, Political/General News, Health, Medical Conditions, Outbreaks/Epidemics

Article_Normal, Biotechnology

Dow loses grip on 35,000 and touches 2-week low as stock market comes under pressure Wednesday

Dow industrials skid to lowest level in two weeks after surrendering early gain

9/8/2021 6:56:00 PM

Dow industrials skid to lowest level in two weeks after surrendering early gain

U.S. equity benchmarks trade mixed Wednesday morning, with information technology and communication services sectors coming under selling pressure, as...

Investors also were digesting comments from St. Louis Federal Reserve President James Bullard, who said the Fed should ease monetary programs as the most severe impact of the COVID pandemic recedes.How are stock-index futures trading? On Tuesday, the Dow industrials fell 269.09 points, or 0.8%, to finish at 35,100, the S&P 500 slipped 15.40 points, or 0.3%, to end at 4,520.03. The Nasdaq Composite gained 10.81 points, or 0.1%, to finish at 15,374.33.

Hear Sounds From Mars Captured by NASA’s Perseverance Rover Democrats Attempt To Woo Joe Manchin For Reconciliation Bill By Taping Single Hershey’s Kiss To Latest Draft Matt Gaetz's former 'wingman' gets more time to help prosecutors

What’s driving the market? Investors were wrestling with markets that are relatively lightly traded, following the Labor Day holiday, where markets were closed on Monday, and the end of Rosh Hashana, which concludes at sunset on Wednesday.Meanwhile, traders were lightening up on technology shares, with uncertainty growing about the outlook for stocks after a strong second-quarter earnings period and doubts about the persistence of policies that will continue to fuel further record gains for stocks that are considered richly valued.

“Investors on the whole have enjoyed a fairly decent run this year, but now attention is turning from the post-lockdown spending splurge to how corporate earnings might fare next year,” said Russ Mould, investment director at AJ Bell, in a note to clients.

A clutch of Wall Street banks, including Goldman Sachs, have cut U.S. growth targets in the wake of weaker-than-expected jobs figures.“There is a sense that some of the market forecasts have been too optimistic and so there could be some share-price disappointment unless we see GDP figures pick up and the COVID delta variant stops causing so much trouble,” he said.

On top of that, Bullard said the central bank would press on with plans to ease monetary stimulus, and brushed aside worries over slowing employment, in an interview with the Financial Times that was published Wednesday.“There is plenty of demand for workers and there are more job openings than there are unemployed workers,” Bullard told the FT. Getting the two “matched up” will contribute to a “very strong” labor market headed into 2022, he said.

“The big picture is that the taper will get going this year and will end sometime by the first half of next year,” Bullard was quoted as saying.Bullard had previously said the Fed should begin the tapering process sooner rather than later, with an eye toward ending purchases altogether by early next year.

Meanwhile, job openings rose to a record 10.9 million in July, the Labor Department said Wednesday, marking the fifth straight all-time monthly high and exceeding forecasts for a rise of 10 million. Job hires, however, slipped by 160,000 to 6.7 million in July. Separations rose 174,000 to 5.8 million.

BLACKPINK’s Rosé on Climate Crisis: “Our Generation Has to Come Together” Scuba diver finds 900-year-old Crusader sword off the coast of Israel 3 Men Posing As Female Author Win Million-Euro Literary Prize

All that said, some strategists remain optimistic about the outlook for markets but are suggesting that investors should be more discerning.“The best days of cyclical value may be behind us, but it’s too early to turn fully to defensive themes. We are sticking with the reflation trade, but with a focus on identifying companies likely to experience upward earnings revisions,” wrote Lauren Goodwin, economist and portfolio strategist at New York Life Investments in a note published Wednesday.

“We favor a global allocation, with an overweight to international developed equity. Value and small cap equities, with a focus on quality companies, should continue to thrive,” the strategist wrote.One issue that has been looming for investors is the government’s debt limit.

Treasury Secretary Janet Yellen said in a letter to congressional leaders Wednesday that Treasury could run out of room next month to keep paying the government’s bills unless Congress steps in to suspend or raise the federal borrowing limit.“A delay that calls into question the federal government’s ability to meet all its obligations would likely cause irreparable damage to the U.S. economy and global financial markets,” Yellen wrote.

Looking ahead, investors will be watching for clues about the health of the U.S. economy from the Federal Reserve’s Beige Book, an anecdotal account of business conditions in the central bank’s 12 business districts. That report comes out at 2 p.m. Eastern Time.

Read: Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider. Read more: MarketWatch »

Auston Matthews is the NHL's must-see superstar

The Maple Leafs center is far from a traditional NHL superstar -- but he might be exactly the kind of star it needs.

My great-grandpa will be upset to hear this

Stock futures open slightly higher after Dow slips following August jobs reportU.S. stock futures opened slightly higher Monday night after the Dow slipped from a record high on Friday. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her earn_with_Jens Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success thanks Huh? I thought the market was closed today? …and that came out FRIDAY. Is CNBC a week behind on Tweets?

Dow logs worst day in about 3 weeks as Nasdaq Composite ekes out 36th record high of 2021U.S. stock benchmarks finished the session mixed on Tuesday, with the Nasdaq Composite logging its 36th record high of the year, barely, while the Dow and S&P 500 ended the first day back from a three-day holiday in the U.S. in negative territory.

Nasdaq hits intraday record but Dow, S&P 500 open lower Tuesday morning as investors return from Labor Day holidayThe Dow and S&P 500 indexes opened lower Tuesday, as investors returned from a three-day weekend, with markets closed on Monday in observance of Labor Day.... Strong buy novavax NVAX Novavax Reddit wallstreetbets wsbmod RobinhoodApp JoeBiden BarackObama POTUS justinbieber HillaryClinton jimcramer

5 things to know before the stock market opens WednesdayU.S. stock futures were flat Wednesday, one day after the Dow dropped nearly 0.8%. The Nasdaq, however, eked out a gain for another record close.

European stocks head for lower open as markets battle nerves over growthEuropean stocks are expected to open lower on Wednesday, reflecting mixed trade in global markets amid nervousness over U.S. economic growth and Covid cases. wow

GameStop earnings are on deck. Here's how the stock typically reactsThe meme stock darling is set to report earnings after the market closes on Wednesday. Based on past results, shares could tumble.