U.S. stock futures started off the new month higher Wednesday after the S&P 500 logged seventh straight monthly gains.
Ahead of Wednesday's open, the Dow was just over 0.7% away from last month's record close. The S&P 500 and Nasdaq were just shy of Monday's record closes.ADP said on Wednesday that U.S. companiesin August, far short of estimates for 600,000. ADP's look at July private sector jobs gains was also a big miss. These numbers have not been a great barometer during Covid of what the government's monthly jobs data might show.
Economists expect the Labor Department's report Friday to show 720,000 nonfarm payrolls additions in August and a dip in the nation's unemployment rate to 5.2%. The economy created a better-than-expected as the unemployment rate dropped to 5.4%. The latest weekly tally of initial jobless claims is out Thursday. Oil prices rose modestly ahead of Wednesday's OPEC+ meeting. The Organization of the Petroleum Exporting Countries and its allies led by Russiato stick to a plan to add 400,000 barrels per day each month through December. U.S. oil prices broke four months of gains in August, falling nearly 7.4% in their worst month since October.
That's despite last week's gain of 10.6% in advance of Hurricane Ida, which slammed the Gulf Coast on Sunday, temporarily halting oil production and refinery operations. About 985,000 customers in Louisiana
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500, Nasdaq notch more records even as the Dow slipsSeveral Big Tech stocks and healthcare companies helped lift the benchmark S&P 500. Banks stocks, which would benefit from higher rates, were the biggest drag on the overall market.
Read more »
Stock futures open slightly higher following another record-setting month for the S&P 500U.S. stock futures open slightly higher Tuesday night after the S&P 500 notched a seven-month win streak in August.
Read more »
Three reasons why UBS believes the S&P 500 can rally to 5,000Mark Haefele, chief investment officer for UBS' global wealth management, said the S&P 500 can rise roughly 10% by the end of 2022.
Read more »
Stock Futures Point to S&P 500 Notching Fresh RecordU.S. stock futures ticked up and technology stocks are poised to lead indexes higher again, after the S&P 500 clinched its 53rd record close of the year.
Read more »
The S&P 500 is headed for 5,000, says UBS. Here’s the when and how.Our call of the day sees no stopping for this stock market. UBS's Mark Haefele explains his big forecast for 2022.
Read more »
Stock futures open slightly higher following another record-setting month for the S&P 500U.S. stock futures open slightly higher Tuesday night after the S&P 500 notched a seven-month win streak in August.
Read more »