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Strong job data raises Fed rate hike odds, dragging stocks down

The Korea Times
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Strong job data raises Fed rate hike odds, dragging stocks down
Photo: koreatimes.co.kr

Points clés

  • 162,000 new job openings were created in the U.S., above expectations.
  • The probability of a Fed rate hike this month strengthened.
  • S&P 500 fell 0.5%, Dow fell 378 points, Nasdaq fell 0.4%.
  • Lululemon lost 19.1% on weak revenue guidance.

En chiffres

162,000 new job openings0.5% S&P 500 decline378-point Dow Jones decline19.1% Lululemon decline

U.S. stocks fell on Friday after unexpectedly strong job data. It was reported that 162,000 new job openings were created last month; this opened the door for the Federal Reserve to decide on a rate hike this month.

The S&P 500 index lost 0.5%, the Dow Jones Index fell 378 points (0.7%), and the Nasdaq Composite Index declined 0.4%. Technology stocks rose to limit the decline; Nvidia rose 1.9%, Micron 4.3%, and Sandisk 8.7%. Lululemon, however, plunged 19.1% on weak quarterly revenue and a lowered year-end forecast.

Bond yields generally rose; the 10-year U.S. Treasury yield held at 4.77%. European and Asian markets traded mixed.

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Questions fréquentes

Why did stocks fall?
Unexpectedly strong job data increased the likelihood of a Fed rate hike.
Which stocks rose?
Technology stocks (Nvidia, Micron, Sandisk) rose despite the market decline.
What happened to bond yields?
The 10-year Treasury yield held at 4.77%, continuing its recent uptrend.

Ceci est un court résumé généré par l'IA. L'article complet est à la source.

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