(Tiper Stock Exchange) – Hesitant debut for Wall Streetstill conditioned by the wait for i labor market data which will arrive in the next few days: tomorrow the one on weekly claims for benefits and Friday the Job Reports. Meanwhile, the usual monthly report of ADP extension on the private sector confirmed that employment growth has cooled, with 177 thousand jobs compared to 324 thousand in the previous month.
The 2nd quarter GDP figure also appeared a bit disappointinghaving revised economic growth downwards to 2.1% from the 2.4% indicated in the preliminary estimate.
The picture that is emerging would seem to signal a slowdown in the labor market and the US economy and could convince the Federal Reserve to to interrupt the cycle of rate increase of interest started more than a year ago. This was also assured by President Powell from Jackson Hole, confirming that the Board will continue to look at the data to decide how to proceed.
Meanwhile, in New York, the index Dow Jones rises by 0.25% to 34,938 points; on the same line theS&P-500, which starts the session at 4,504 points, leading by a modest 0.15%. Consolidate the levels of the eve the NASDAQ 100 which rests on parity; on the same trendS&P 100 (+0.1%).