Watch S&P 500, Dow Jones Next Week After Today’s Reversal
In the US stock market, despite modest declines on the day after the NFP, major indices like the S&P and NASDAQ closed higher for the week.
In the US stock market, despite modest declines today, major indices like the S&P and NASDAQ closed higher for the week. There was volatility throughout the week, as US data came out mixed, showing a softening economy, however, they ended the week with gains, but the reversal on Friday might be a case for some worry.
The US Non-Farm Payroll jobs data showed a decent jump in May, with some components showing strength, however, there were a few components that were softer. Nonfarm employment exceeded expectations, increasing by 272K compared to the forecast of 185K. Private payrolls also saw a robust increase, climbing by 229,000 versus the anticipated 170,000. Additionally, average hourly wages and average earnings showed growth, with increases of 0.4% and 4.1% year-on-year, respectively, surpassing projections.
However, the unemployment rate ticked up to 4.0% from the previous 3.9%. Furthermore, the household survey, used to calculate the unemployment rate, revealed a decline in the number of people reporting work by -408K. Additionally, full-time employment saw a notable decrease of -625K, while part-time employment increased by 286K.
S&P 500 Chart Daily – Another Record High Before Retreating Today
The Dow Jones Industrial Average fell by -0.22% on the day but rose by 0.29% for the week. Similarly, the S&P index saw a daily decline of -0.1% but posted a weekly gain of 1.30%. The NASDAQ index experienced a daily drop of -0.2% but surged by 2.5% for the week.
US Stock Market Recap
Final S&P 500, Dow Jones and NASDAQ Numbers for Today
- Dow Jones Industrial Average: Fell by 87.20 points or -0.22%, closing at 36,799.00
- S&P 500 Index: Fell by 5.97 points or -0.11%, closing at 5,346.98
- NASDAQ Composite Index: Fell by 39.99 points or -0.23%, closing at 17,133.13
Despite the declines today, the major indices showed overall gains for the week, rebounding from the previous week’s declines:
Weekly Performance for the S&P 500, Dow Jones and NASDAQ
- Dow Jones Industrial Average: Rose by 0.29% for the week
- S&P 500 Index: Rose by 1.32% for the week
- NASDAQ Composite Index: Rose by 2.38% for the week
S&P 500 Live Chart
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals