After yet another jobs report revealed a slowdown in the private sector, US stock futures declined.
The S&P 500 (GSPC) and Dow Jones Industrial Average (DJI) were both marginally below zero before the opening bell. The tech-heavy Nasdaq Composite (IXIC) saw a 0.1% decline in futures.
U.S. Treasury yields decreased. The 10-year note’s yield increased to 3.302%. As statistics revealed that US job openings fell to their lowest levels since May 2021 in February, gold futures (GC=F) are trading at their highest levels in more than a year.
After more evidence of a slowdown in the labor market emerged in new statistics, the S&P 500 ended Tuesday’s trading session 0.6% down. According to the monthly Job Openings and Labor Turnover Survey (JOLTS), there were 9.93 million job opportunities in the US inUS stock futures fell after yet another jobs data suggested a slowdown in the private sector.
Before the opening bell, the Dow Jones Industrial Average (DJI) and S&P 500 (GSPC) were both slightly below zero. Futures for the tech-heavy Nasdaq Composite (IXIC) showed a 0.1% decrease.
Bond yields in the US dropped. The yield on the 10-year note jumped to 3.302%. Gold futures (GC=F) are trading at their best levels in more than a year, despite data showing that US job postings declined to their lowest levels since May 2021 in February.
The S&P 500 closed Tuesday’s trading session 0.6% down as new numbers showed further evidence of a slowdown in the labor sector. There were 9.93 job openings every month, according to the Job Openings and Labor Turnover Survey (JOLTS).On April 1, 2016, in New York, Loretta Mester, president of the Cleveland Federal Reserve, speaks with host Maria Bartiromo during a part of “Morning with Maria” on Fox Business Network. (Image: Rob Kim via Getty Images)
Other single-stock movements included a 2% increase in Johnson & Johnson (JNJ) shares in premarket trading following the healthcare behemoth’s quadrupling of its offer to settle cancer cases over its baby powder. The corporation is currently giving the 60,000 candidates $8.9 billion.
Bank stocks, as measured by the KBW Banks Index (BKX), fell on Tuesday, losing 2%. First Republic (FRC), KeyCorp (KEY), and Comerica (CMA), all down more than 5%, were the losers. On Wednesday, they were headed for further defeats.
Shares of C3.ai, Inc. (AI) decreased by around 4% on Wednesday morning followingKerrisdale Capital, a firm that holds a short position in shares of AI, said it had sent a letter to the software maker’s auditor , alleging a number of accounting irregularities . The company denied wrongdoing.
Inflarx NV (IFRX) shares surged Tuesday morning after the U.S. Food and Drug Administration (FDA) granted Inflarx NV’s monoclonal antibody an emergency use authorization to treat hospitalized COVID patients.
Elsewhere in the crypto market, Ethereum (ETH-USD) has gained momentum over the past 24 hours as it nears the $2,000 mark ahead of the blockchain’s Shanghai upgrade.
