The US economy added another 1.4 million jobs in August, which was in line with expectations and down from 1.7 million jobs added in July and 4.8 million in June. Every person who can go back to work is a win for the recovery from the coronavirus-fueled joblessness crisis, but America is still down 11.5 million jobs from February.
The failed attempt at a market rebound follows Thursday's massive drop for stocks, which was led by big sell-offs in red hot tech leaders such as Apple (AAPL), Amazon (AMZN) and Microsoft (MSFT).
The Dow slid more than 800 points Thursday, in what was the worst day for stocks since June.
That sell-off came just one day after the S&P 500 and Nasdaq both hit new all-time highs and is a sign that market volatility may be back.
It also appears that investors have decided to rotate out of riskier tech stocks, which have helped lead the broader market higher for the past few years, and into more cyclical companies.
To that end, financial giants American Express (AXP), JPMorgan Chase (JPM) and Travelers (TRV) were Dow leaders Friday morning. So were industrial conglomerates Caterpillar (CAT), 3M (MMM) and new Dow component Honeywell (HON).
Software company Salesforce (CRM), another new Dow member, was the biggest loser Friday, falling 5%.
"try" - Google News
September 04, 2020 at 08:50PM
https://ift.tt/2Z9SPLc
Stocks try to recover after Thursday's tech wreck - CNN
"try" - Google News
https://ift.tt/3b52l6K
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Stocks try to recover after Thursday's tech wreck - CNN"
Post a Comment