Wall Street closed with losses and again ended the week negative

A trader works on the trading floor of the New York Stock Exchange (NYSE) in Manhattan, New York City, US, April 11, 2022. REUTERS/Andrew Kelly

Last stock finished Busy week with more losses On Friday, as investors considered the negative side who still strong job market American.

The Standard & Poor’s 500 It decreased by 1.6%, an indicator His eighth week of losses in the last nine. The losses of major technology companies contributed to Nasdaq It will decrease 2.5 percent.

Indicator Dow Jones lost 1%. The report showing stronger-than-expected employment last month is welcome news for the economy amid fears of a possible recession.

yield treasury bonds It rose after the government announced stronger-than-expected hiring last month, which kept the Federal Reserve on track for a series of major interest rate increases aimed at curbing inflation and slowing the economy.

The most comprehensive report from the US government showed thatEmployers added 390,000 jobs last month, better than expectations of 322,500 jobs.

The report contained some signs that analysts said could lead the Fed to do so less aggressiveand the mixed data This could swing the markets into Friday. Large daily declines have become the norm lately as Wall Street struggles to gauge how aggressive the Federal Reserve is.

Median worker wages were slightly weaker in May than economists had expected. While this is frustrating for people who see prices at the grocery store and a gas pump going up more than their salary, That could mean less pressure in the future on inflation across the economy. In addition, job growth in the country slowed last month, although it was better than expected.

Employment remains strong for the economy, but there are some signs of slowing down“, He said Brian Jacobson, Senior Investment Analyst at Allspring Global Investments. “The signals aren’t clear and convincing enough to suggest the Fed needs to pause just yet, but a lot could change in the coming months.“.

There are many doubts“, He said John Lynch, chief investment officer at Comerica Wealth Management. “You can’t put Ukraine in a spreadsheet and you can’t put the lockdowns on China in a spreadsheet.”

Jamie Dimon, CEO of JPMorgan Chase, said earlier this week that he is preparing his company for “tornadoeconomichighlighting the decline in economic support from the US government and the Federal Reserve, as well as the war in Ukraine.

(with information from AP)

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The US created 390,000 jobs in May and the unemployment rate remained at 3.6%.

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