PARIS (Reuters) – The New York Stock Exchange advances in early trading on Wednesday, after the publication of two successive indicators which showed a deceleration in the job market in the United States.
In early trading, the Dow Jones index gained 89.82 points, or 0.25% to 36,212.97 points and the broader Standard & Poor’s 500 rose 0.47% to 4,588.62 points. The Nasdaq Composite takes 0.65% or 93.06 points, to 14,322.976.
The ADP survey on job creation in the private sector, published on Wednesday, showed that job creation was lower than expected in November.
On Tuesday, the “Jolts” employment report (Job Openings and Labor Turnover Survey) had already shown that the number of job offers had fallen in October to its lowest level since the start of 2021.
These two indicators are all the more important as investors remain cautious before Friday’s publication of the Labor Department’s monthly employment report. The data series released Tuesday and Wednesday raise hopes that the report will not surprise on the upside.
Labor market tensions remain a major contributor to inflation across the Atlantic and a slowdown is encouraging investors to bet that the Federal Reserve is done with rate hikes.
In terms of values, Mastercard advanced 0.75%, after declaring Tuesday that its board of directors had approved a new share buyback program of up to $11 billion.
Nvidia gains 1.5% after announcing the development of a new series of products that comply with US government regulations and which can be exported to China.
(Written by Corentin Chappron, edited by Blandine Hénault)
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