04.09.202514:12:49UTC+00US Stocks Waver

On Thursday, the three major U.S. stock averages fluctuated between minor gains and losses, as traders processed the latest set of economic data and its implications for Federal Reserve policy. In August, the U.S. private sector added just 54,000 jobs, indicating that the labor market may be losing steam and bolstering expectations for a Fed interest rate cut this month. Additionally, initial jobless claims increased to 237,000, marking the highest level in nearly two months, following a weaker-than-anticipated JOLTS report on Wednesday. Conversely, the ISM Services PMI exceeded expectations, reaching a six-month high. Investors are now keenly anticipating Friday's crucial non-farm payrolls report. The consumer discretionary sector emerged as the clear standout performer, while the materials and technology sectors saw declines. Amazon saw a notable 3.1% gain, Meta rose by 1.6%, and Broadcom's shares edged up 0.4% ahead of its quarterly earnings announcement post-market close. Conversely, Alphabet experienced a 1.4% decline, and Salesforce shares plummeted 8% due to an underwhelming company outlook.