S&P 500 ends near flat as more jobs data awaited; eyes on Middle East
Wed October 2, 2024 7:07 PM
The indexes all stayed pretty close to Tuesday’s close all day for a pretty sedate session as investors continued fence-sitting in light of the Middle East conflict, the port strike, and awaiting the week’s important data. Today’s private payrolls data showed a greater than expected increase further bolstering the case for a stable labor market. Thursday, we get jobless claims, Friday non-farm payrolls, so everyone is being cautious ahead of this data.
Plus, Q3 earnings start at the end of next week and, despite the near all-time highs and a now friendly dovish Fed, investors really want to see how the companies are doing to assess where we’re heading. The odds of another ½ point rate cut in November still stands at roughly 1 in 3, with ¼ point at 2 in 3. The 11.81 billion volume was a tad below the 12.05 billion recent average.
DJ: 42,156.97 -173.18 NAS: 17,910.36 -278.81 S&P: 5,708.75 -53.73 10/1
DJ: 42,196.52 +39.55 NAS: 17,925.12 +14.76 S&P: 5,709.54 +0.79 10/2
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