PARIS (Reuters) – The New York Stock Exchange opened on Wednesday after the publication of a survey of a surprise destruction of jobs in the United States when the official monthly report in this area may not be published on Friday due to the “Shutdown” of the American administration.
In the first exchanges, the Dow Jones index loses 87.23 points, or 0.19%, at 46,310.66 points.
The Standard & Poor’s 500, larger, fell from 29.05 points, or 0.43%, to 6,659.41 points.
The Nasdaq Composite gives in 131.20 points, or 0.58%, to 22,528.81 points.
A little more than an hour before the opening of Wall Street, the monthly investigation of the ADP firm showed that the private sector in the United States had, against all expectations, destroyed 32,000 jobs in September, while the figure for the month of August was revised to display -3,000, against +54,000 initially estimated.
This statistic confirms the fears of a slowdown in the labor market while the publication Friday of the monthly indicator of the labor department on job creations, the unemployment rate and the evolution of wages are now threatened by a possible extension of the “Shutdown”.
The operations of the American federal administration have been largely closed since Wednesday due to profound partisan divisions which prevented the congress and the White House from reaching a budgetary agreement.
Analysts explain that the labor market is on a tightrope with data that must be flexible enough to justify rate drops, while remaining firm enough to avoid rekindling the fear of a generalized economic slowdown.
“The ADP survey could for the first time be a more precise indicator of the real level of employment,” said Jamie Cox, associate director at Harris Financial Group.
On the financial markets, the dollar fell 0.18% against a basket of international currencies, while the yield of US Treasury bills at two years old, the most sensitive to the monetary policy of the Fed, falls from almost seven base points to 3.53%.
At the values, Nike takes 4.5% after having reported on Tuesday evening an unexpected increase in its turnover and a profit better than expected for the first quarter.
Lithium Americas flies to 23.77% after taking an equity to the US State 5% in the group’s capital.
On the decrease side, Marvell Technology abandons 2.87%, TD Cowen having spent “buy” to “keep” on the value.
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(Written by Claude Chendjou, edited by Kate Entringer)
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