by Caroline Valetkevitch
NEW YORK (Reuters) – The New York Stock Exchange ended slightly lower on Thursday, as investors favored caution on the eve of the publication of a monthly report on the job market in the United States which could give them indications on the contours of the continuation of monetary policy.
The Dow Jones index fell 0.03%, or 9.98 points, to 33,119.57 points.
The broader S&P-500 lost 5.56 points, or 0.13%, to 4,258.19 points.
The Nasdaq Composite fell 16.18 points (0.12%) to 13,219.83 points.
While an ADP report released Wednesday showed that the American private sector created fewer jobs than expected in September, data released today indicated that the number of weekly jobless claims in the United States was higher. weaker than expected, suggesting resilience in the labor market.
The official report to be released on Friday could be the most important economic indicator of the week for investors, who are worried about the prospect of the US Federal Reserve (Fed) keeping interest rates high for longer.
Like the day before, the yield on US Treasury bonds fell, after reaching peaks not seen since 2007 following the Fed’s last monetary policy meeting, on September 19 and 20.
San Francisco Fed President Mary Daly told a conference in New York that the U.S. central bank may not need to raise rates again, given that monetary policy is firmly anchored in the territory restrictive and that bond yields had recently increased.
“It looks like we’re holding on. That’s probably because bond yields have fallen, and maybe Mary Daly’s comments also helped a little,” Peter Cardillo, chief economist at Spartan Capital Securities, said in a statement. At New York.
With the recent weakness on Wall Street, investors are also looking ahead to the quarterly earnings season, which begins later this month. According to IBES data from LSEG, S&P-500 companies should generally post third-quarter sales up 1.6% year-on-year.
On the stock side, Dell Technologies fell 1.5% after communicating turnover prospects suggesting that the effect of the rise of artificial intelligence (AI) would take time to materialize for the company. business.
( Jean Terzian)
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