04.09.202513:42:54UTC+00S&P and Nasdaq Rise, Labour Data Eyed

On Thursday, the S&P 500 edged up by 0.2% and the Nasdaq advanced by 0.4%, whereas the Dow Jones experienced minor fluctuations, oscillating between slight gains and losses. Investors were processing the latest labor data, which indicated a muted job market. The U.S. private sector added a modest 54,000 jobs in August, further suggesting that the labor market's momentum is waning and bolstering prospects for an interest rate cut by the Federal Reserve this month. Additionally, initial jobless claims rose to 237,000, marking the highest figure in almost two months. This followed a weaker-than-anticipated JOLTS report on Wednesday. Market participants are now keenly anticipating Friday's pivotal nonfarm payrolls data. Within the market, the consumer discretionary sector stood out as the best performer, while the materials and health sectors recorded losses. Amazon surged by 3.6% and Meta enjoyed a 2.4% rise, with Broadcom's stock increasing by 1% in anticipation of its quarterly earnings announcement after market closure. Conversely, Salesforce tumbled by 7.6% due to a disappointing outlook.