The three major North American stock exchanges ended the first week of June in the red, on a day marked by pessimistic sentiment among investors regarding the “timing” and number of interest rate cuts by the Federal Reserve over the course of the year.
In May, the world's largest economy added 272,000 jobs, according to the US Department of Labor, far more than the 185,000 jobs Reuters analysts had expected. Now, the strength of the economy is showing signs of withstanding higher interest rates for longer, giving the central bank wings to prolong restrictive monetary policy and postpone the decline that the market has long expected.
“No one expects the Fed to cut rates next week, but the question on everyone’s mind is whether they will open the door to a rate cut in September,” Carson Group strategist Ryan Detrick told Reuters.
Since the data was released, Friday's session has remained busy. The S&P 500 fell immediately after the report and ended up losing 0.08% to 5,384.84 points, while the S&P 500 fell 0.08% to 5,384.84 points. Nasdaq compound It ended the session down by 0.23% to 17,133.13 points. actually The Dow Jones Industrial Average fell 0.22% to 38,798.99 points.
Putting pressure on the negotiations was GameStop, which fell 39% with the announcement of lower quarterly sales along with a potential sale of shares worth $3 billion.
Your mother The entertainment value fell by 15.20% due to a downward revision of the company's target price by several brokers.
The highlight was semiconductor giant Nvidia, which lost 0.09% — a slight decline but enough to leave it short of the $3 billion mark of market capitalization reached on Wednesday. After the close of trading on Friday, the technology company initiates an approved “stock split” strategy, and from Monday onwards, each share traded is worth $10.
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