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2023-01-06

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US STOCKS-Wall St Drops More Than 1% With Jobs Data Feeding Fears of More Fed Tightening

(Reuters) - Wall Street's main indexes lost more than 1% on Thursday, with Nasdaq leading the declin

US STOCKS-Wall St Drops More Than 1% With Jobs Data Feeding Fears of More Fed Tightening

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Another report showed weekly jobless claims fell last week.On Wednesday, another data set showed a moderate fall in U.S. job openings. While a strong labor market would usually be welcomed as a sign of economic strength, investors currently see it as a reason for the Fed to keep interest rates high.&#34;It&#39;s very clear that good news on the labor market means bad news for the stock market. Data is showing that the labor market is very resilient,&#34; said Anthony Saglimbene, chief market strategist at Ameriprise in Tory Michigan.&#34;As long as the labor market is resilient, the Federal Reserve has to continue to tighten financial conditions to bring inflation down,&#34; said that strategist who expects investors to be keenly focused on wage inflation in Friday&#39;s jobs report.The Dow Jones Industrial Average fell 339.69 points, or 1.02%, to 32,930.08, the S&amp;P 500 lost 44.87 points, or 1.16%, to 3,808.1 and the Nasdaq Composite dropped 153.52 points, or 1.47%, to 10,305.24.The indexes lost steam late in the day, ending close to their session lows. They had pared losses in the early afternoon when St. Louis Federal Reserve leader James Bullard said 2023 could finally bring some welcome relief on the inflation front.While Saglimbene noted that Bullard&#39;s comments were not surprising, his suggestion that rate hikes were starting to show some signs of dampening inflation, provided some reassurance.Among the S&amp;P&#39;s 11 major sectors, real estate - which was the biggest percentage gainer on Wednesday - lead Thursday&#39;s sector losses with a 2.9% drop, with utilities came next, falling 2.2%.The sole gainer was energy, which closed up 1.99% after crude oil futures settled higher.On Wednesday, Wall Street&#39;s main indexes had erased some of their gains after minutes from the Fed&#39;s December meeting showed officials were laser-focused on fighting inflation even as they agreed to slow the hiking pace to limit economic risks.Earlier Thursday both Kansas City Fed leader Esther George and Atlanta President Raphael Bostic stressed that the central bank&#39;s priority was to curb inflation through policy tightening.Traders see rates peaking at slightly above 5% in June.The more comprehensive non farm payrolls report due on Friday, will be looked to for further clues on labor demand and the rate hike trajectory.Among individual stocks, Tesla Inc ended down 2.9% after December sales of its China-made electric vehicles fell to a five-month low, while Amazon.com Inc finished down 2.4% after it announced increased layoff plans.<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> Inc finished down 6% at $35.19 after the drugstore chain posted a quarterly loss on an opioid litigation charge.Shares in Bed Bath &amp; Beyond Inc plunged 29.9% to $1.69 after the home goods retailer said it was exploring options, including bankruptcy.Declining issues outnumbered advancing ones on the NYSE by a 1.58-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored decliners.The S&amp;P 500 posted 8 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 68 new highs and 66 new lows.On U.S. exchanges was 10.21 billion shares changed hands compared with the 10.79 billion moving average for the last 20 trading days.</body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall St Drops More Than 1% With Jobs Data Feeding Fears of More Fed Tightening</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall St Drops More Than 1% With Jobs Data Feeding Fears of More Fed Tightening\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nReuters \n2023-01-06 06:30\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body>(Reuters) - Wall Street&#39;s main indexes lost more than 1% on Thursday, with Nasdaq leading the declines, as evidence of a tight labor market eroded hopes that the Federal Reserve could pause its rating hiking cycle anytime soon as it keeps focused on inflation.Thursday&#39;s ADP National Employment report showed a higher-than-expected rise in private employment in December. Another report showed weekly jobless claims fell last week.On Wednesday, another data set showed a moderate fall in U.S. job openings. While a strong labor market would usually be welcomed as a sign of economic strength, investors currently see it as a reason for the Fed to keep interest rates high.&#34;It&#39;s very clear that good news on the labor market means bad news for the stock market. Data is showing that the labor market is very resilient,&#34; said Anthony Saglimbene, chief market strategist at Ameriprise in Tory Michigan.&#34;As long as the labor market is resilient, the Federal Reserve has to continue to tighten financial conditions to bring inflation down,&#34; said that strategist who expects investors to be keenly focused on wage inflation in Friday&#39;s jobs report.The Dow Jones Industrial Average fell 339.69 points, or 1.02%, to 32,930.08, the S&amp;P 500 lost 44.87 points, or 1.16%, to 3,808.1 and the Nasdaq Composite dropped 153.52 points, or 1.47%, to 10,305.24.The indexes lost steam late in the day, ending close to their session lows. They had pared losses in the early afternoon when St. Louis Federal Reserve leader James Bullard said 2023 could finally bring some welcome relief on the inflation front.While Saglimbene noted that Bullard&#39;s comments were not surprising, his suggestion that rate hikes were starting to show some signs of dampening inflation, provided some reassurance.Among the S&amp;P&#39;s 11 major sectors, real estate - which was the biggest percentage gainer on Wednesday - lead Thursday&#39;s sector losses with a 2.9% drop, with utilities came next, falling 2.2%.The sole gainer was energy, which closed up 1.99% after crude oil futures settled higher.On Wednesday, Wall Street&#39;s main indexes had erased some of their gains after minutes from the Fed&#39;s December meeting showed officials were laser-focused on fighting inflation even as they agreed to slow the hiking pace to limit economic risks.Earlier Thursday both Kansas City Fed leader Esther George and Atlanta President Raphael Bostic stressed that the central bank&#39;s priority was to curb inflation through policy tightening.Traders see rates peaking at slightly above 5% in June.The more comprehensive non farm payrolls report due on Friday, will be looked to for further clues on labor demand and the rate hike trajectory.Among individual stocks, Tesla Inc ended down 2.9% after December sales of its China-made electric vehicles fell to a five-month low, while Amazon.com Inc finished down 2.4% after it announced increased layoff plans.<a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> Inc finished down 6% at $35.19 after the drugstore chain posted a quarterly loss on an opioid litigation charge.Shares in Bed Bath &amp; Beyond Inc plunged 29.9% to $1.69 after the home goods retailer said it was exploring options, including bankruptcy.Declining issues outnumbered advancing ones on the NYSE by a 1.58-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored decliners.The S&amp;P 500 posted 8 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 68 new highs and 66 new lows.On U.S. exchanges was 10.21 billion shares changed hands compared with the 10.79 billion moving average for the last 20 trading days.</body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","BK4007":"制药","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4196":"保健护理服务","BK4082":"医疗保健设备","BK4535":"淡马锡持仓","BK4527":"明星科技股","BK4559":"巴菲特持仓","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0109392836.USD":"富兰克林科技股A","BK4579":"人工智能","BK4507":"流媒体概念","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BK4122":"互联网与直销零售","LU0097036916.USD":"贝莱德美国增长A2 USD",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4561":"索罗斯持仓","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","BK4548":"巴美列捷福持仓","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","BK4534":"瑞士信贷持仓",".DJI":"道琼斯","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","BK4128":"药品零售"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2301916295","content_text":"(Reuters) - Wall Street's main indexes lost more than 1% on Thursday, with Nasdaq leading the declines, as evidence of a tight labor market eroded hopes that the Federal Reserve could pause its rating hiking cycle anytime soon as it keeps focused on inflation.Thursday's ADP National Employment report showed a higher-than-expected rise in private employment in December. Another report showed weekly jobless claims fell last week.On Wednesday, another data set showed a moderate fall in U.S. job openings. While a strong labor market would usually be welcomed as a sign of economic strength, investors currently see it as a reason for the Fed to keep interest rates high.\"It's very clear that good news on the labor market means bad news for the stock market. Data is showing that the labor market is very resilient,\" said Anthony Saglimbene, chief market strategist at Ameriprise in Tory Michigan.\"As long as the labor market is resilient, the Federal Reserve has to continue to tighten financial conditions to bring inflation down,\" said that strategist who expects investors to be keenly focused on wage inflation in Friday's jobs report.The Dow Jones Industrial Average fell 339.69 points, or 1.02%, to 32,930.08, the S&P 500 lost 44.87 points, or 1.16%, to 3,808.1 and the Nasdaq Composite dropped 153.52 points, or 1.47%, to 10,305.24.The indexes lost steam late in the day, ending close to their session lows. They had pared losses in the early afternoon when St. Louis Federal Reserve leader James Bullard said 2023 could finally bring some welcome relief on the inflation front.While Saglimbene noted that Bullard's comments were not surprising, his suggestion that rate hikes were starting to show some signs of dampening inflation, provided some reassurance.Among the S&P's 11 major sectors, real estate - which was the biggest percentage gainer on Wednesday - lead Thursday's sector losses with a 2.9% drop, with utilities came next, falling 2.2%.The sole gainer was energy, which closed up 1.99% after crude oil futures settled higher.On Wednesday, Wall Street's main indexes had erased some of their gains after minutes from the Fed's December meeting showed officials were laser-focused on fighting inflation even as they agreed to slow the hiking pace to limit economic risks.Earlier Thursday both Kansas City Fed leader Esther George and Atlanta President Raphael Bostic stressed that the central bank's priority was to curb inflation through policy tightening.Traders see rates peaking at slightly above 5% in June.The more comprehensive non farm payrolls report due on Friday, will be looked to for further clues on labor demand and the rate hike trajectory.Among individual stocks, Tesla Inc ended down 2.9% after December sales of its China-made electric vehicles fell to a five-month low, while Amazon.com Inc finished down 2.4% after it announced increased layoff plans.Walgreens Boots Alliance Inc finished down 6% at $35.19 after the drugstore chain posted a quarterly loss on an opioid litigation charge.Shares in Bed Bath & Beyond Inc plunged 29.9% to $1.69 after the home goods retailer said it was exploring options, including bankruptcy.Declining issues outnumbered advancing ones on the NYSE by a 1.58-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored decliners.The S&P 500 posted 8 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 68 new highs and 66 new lows.On U.S. exchanges was 10.21 billion shares changed hands compared with the 10.79 billion moving average for the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":465,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":105468539,"commentId":"105468539","gmtCreate":1672964337968,"gmtModify":1672964351870,"authorId":3578540042073632,"author":{"id":3578540042073632,"idStr":"3578540042073632","authorId":3578540042073632,"name":"Brandon2207","avatar":"https://static.tigerbbs.com/c0335fafe87a5d7a8728bb3763ba20dc","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9959871555,"objectIdStr":"9959871555","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Ok","text":"Ok","html":"Ok","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}