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The New York Times (NYT.N) fell 1.3% in premarket trading after Trump sued the company for defamation.On September 16, the National Highway Traffic Safety Administration said on Tuesday that it would launch a so-called "preliminary assessment" on the issue that the electronic door handles of some Tesla Model Y models may lose power and fail. The investigation covers some 2021 Model Y models. A few days ago, an investigation exposed a number of accidents: after the vehicle lost power, the occupants were injured or died because they could not open the door. The National Highway Traffic Safety Administration said: "This investigation focuses on the operability of the vehicles external electronic door locks because in this case, there is currently no way to manually open the door. The agency will continue to monitor all reports involving being trapped when opening the door from the inside of the vehicle, and the Vehicle Defects Investigation Office will take further action as needed."September 16: Building materials trading volume reached 110,500 tons, a 6.04% decrease from the previous trading day. September 15: Building materials trading volume reached 117,600 tons, a 1.03% increase from the previous trading day. September 12: Building materials trading volume reached 116,400 tons, a 26.66% increase from the previous trading day. September 11: Building materials trading volume reached 91,900 tons, a 1.18% decrease from the previous trading day. September 10: Building materials trading volume reached 93,000 tons, a 8.28% decrease from the previous trading day. Last weeks average: Building materials trading volume was 10,308 tons.On September 16th, ING Bank stated in a research report that the US dollar is likely to remain relatively weak. The report pointed out that the US dollar started the week on a weak note, which may be partly related to the markets early positioning for the expected Federal Reserve interest rate cut later this week. ING Bank said that the weakening of the US dollar was also affected by the benign external environment. Global stock markets continued to rise slightly due to the dual effects of resilient business confidence and the expected decline in core borrowing costs. The report stated that this situation would typically prompt capital to flow into risky assets and non-US dollar markets, thereby reducing investor demand for the safe-haven currency, the US dollar. ING Bank said that the focus of the market on Tuesday will be US retail sales data.Spanish Economy Minister: We see average annual economic growth above 2% in the medium term.

S&P 500 Index, NASDAQ Composite Attempting to Recover from Knee-jerk Reaction to Hot Labor Market Report

Florala Chen

Dec 05, 2022 15:43



As traders attempt to recover earlier losses, the tech-heavy NASDAQ Composite and the benchmark S&P 500 Index are down late in trading on Friday but still much above their intraday lows.


As investors changed their bets in anticipation of a more hawkish-than-expected Federal Reserve response to a positive U.S. job market report, U.S. stocks declined and U.S. Treasury yields increased.


The November Non-Farm Payrolls report, which showed employers increasing wages amid worries of a recession and hiring more people than anticipated in November, is the driving force behind the price movement.


The blue-chip Dow Jones Industrial Average is currently trading at 34294.50, down 100.51 or -0.29%, at 19:00 GMT. The NASDAQ Composite Index is trading at 11394.84, down 87.61 or -0.76%, and the S&P 500 Index is at 4054.08, down 22.49 or -0.55%.

Jobs Hotter Than Expected Report

In contrast to economists' predictions of 200,000 jobs, the U.S. Labor Department reported that nonfarm payrolls expanded by 263,000 jobs last month. Additionally, average hourly wages rose by 0.6% from 0.5% in October. Traders have a 0.3% increase factored in. The Unemployment Rate, the report's lone positive point, remained constant at 3.7% even though the Fed would have preferred an increase.


According to the data, employers appear unconcerned about rising interest rates. They must first believe they need the people, and they must also be sure they can turn a profit even in an environment with rising interest rates.

Leading the Job Gains Were the Leisure and Hospitality Sectors

According to the report's internal statistics, the industry that added the most jobs, 88,000, was leisure and hospitality. Since consumers are traveling and dining out after being quarantined due to the pandemic, this is not really surprising.


Surprisingly, the building sector generated 20,000 jobs as well, despite the housing sector suffering from four straight rate rises of 0.75 percentage points.

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