Indexes end lower ahead of US jobs data, Middle East still in focus

Indexes end lower ahead of US jobs data, Middle East still in focus

By Caroline Valetkevitch

Thu October 3, 2024 5:04 PM

Between anxieties about the Middle East and the port strike, just plain caution ahead of Friday’s all important jobs report, and good old-fashioned profit taking from the last few weeks of gains, all the indexes spent almost the entire session today substantially in the red, especially the Dow which sank to a 350-point loss by 1 pm before recovering some of it in the afternoon. The tech indexes did considerably better with fewer losses and a much better recovery with both the S&P and Nasdaq closing near flat. Economists forecast an additional 140,000 jobs and unemployment remaining steady at 4.2%. As always, the jobs report is considered the key for interest rates. Volume came in at 11 billion, shy of the 12 billion-average.

DJ: 42,196.52  +39.55       NAS: 17,925.12  +14.76       S&P: 5,709.54  +0.79        10/2

DJ: 42,011.59  -184.93      NAS: 17,918.48  -6.65          S&P: 5,699.96  -9.58         10/3

Thu 10-3-24 5:04 pm Indexes end lower ahead of US jobs data, Middle East still in focus | Reuters