Home » Economy: US stock exchanges inconsistent – labor market likely to remain robust

Economy: US stock exchanges inconsistent – labor market likely to remain robust

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Economy: US stock exchanges inconsistent – labor market likely to remain robust
New York (dts news agency) – The US stock exchanges were inconsistent on Wednesday. At the close in New York, the Dow was trading at 32,798 points, down 0.2 percent from the previous trading day.

Minutes earlier, the broader S&P 500 was up 0.2 percent at around 3,992 points. The technology exchange Nasdaq calculated the Nasdaq 100 at around 11,576 points 0.4 percent firmer at this time. Disillusionment continued after US Federal Reserve Chairman Jerome Powell testified before the Senate on Tuesday that interest rates could rise to a higher level if inflation made this necessary.

Observers expect further indications of the future course of the Federal Reserve from the labor market report announced for Friday. According to an initial private analysis by the IT service provider ADP, this should reflect a more robust labor market than previously assumed. According to the report, the US economy gained 242,000 in February and salaries rose 7.2 percent year-on-year.

From the Fed’s point of view, such a robust labor market would not be an obstacle to higher interest rates. The European common currency tended to be somewhat weaker on Wednesday evening. One euro cost 1.0544 US dollars (-0.09 percent), one dollar was therefore available for 0.9484 euros.

The price of gold rose slightly, in the evening 1,814 US dollars were paid for a troy ounce (+0.1 percent). This corresponds to a price of 55.32 euros per gram. The price of oil has meanwhile fallen: A barrel of the North Sea variety Brent cost 82.51 US dollars on Wednesday evening around 10 p.m. German time, which was 78 cents or 0.9 percent less than at the close of the previous trading day.

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The Dow Jones is currently with a minus of -0,18 % and a rate of 32,784PKT traded.

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