The US indices recorded a decline at the close of the trading session yesterday, Wednesday, August 4th, with the exception of the Nasdaq Composite Index, which recorded gains at the close, after mixed data from the US economy was announced during the session, in addition to statements from the US Federal Committee member Richard Clarida to the Peterson Institute for International Economics.
The ADP Employment Index in the private sector announced that 330 thousand jobs were added in July, compared to 680 thousand in the revised June reading, and less than market expectations, which indicated that about 700 thousand jobs were added.
On the other hand, economic activity in the services sector issued by the American Institute of Supply Management (ISM) recorded its highest level ever in July, with a growth of 64.1, 4 points higher compared to the June reading of 60.1 (expectations at 60.5), an increase for the fourteenth consecutive month of growth for the services sector.
In a related development, US Federal Reserve Committee member Richard Clarida indicated in his statements at the beginning of the American session yesterday, Wednesday, that he was surprised by the decline in the US bond yield and attributed this to the Corona virus, and Richard expects that bond purchases from the US Federal Bank will be reduced later this year.
Robin Hood’s stock returned to the headlines after the stock trading application’s share was put up for public subscription at the end of last week, where the minimum offer range of the stock was evaluated at 38 countries, before it was raised to $70.39 per share when it closed the session yesterday, Wednesday, by 50% after it was tested $85 levels during the session.
And Wall Street decided to suspend the stock’s trading several times during the session yesterday, Wednesday, after violent and volatile transactions for the stock.
On the other hand, Uber Technologies announced its business results for the second quarter of this year, with a net profit of $1.1 billion, compared to a loss of $1.8 billion compared to the same period last year, and the company recorded revenues of $3.93 billion, compared to $1.913 billion.
It closed down by about 4.69% at levels of $41.81. The Dow Jones Industrial Average closed down by (323) points at the close at 34.792 levels, a loss of about 0.92%, and is now trading in the futures for today’s session, Thursday, at 34.709 levels.
While the S&P 500 index recorded declines at the close at 4.402 levels, down by about (20) points or 0.46%, and it is now trading in futures at 4.399 levels, up by about four points.
While the Nasdaq index recorded gains of 19 points, to close the session at 14.780 points, recording gains of about 0.13%, and it is now trading at 15.087 levels, up by about 13 points.
06/11/2024
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