U.S Shares Head Lower Ahead of Non-farm Report – Put Options Suggested on Dow Jones
Oct, 06th 16:17
U.S stocks retreated on Thursday after finishing in the green on Wednesday. Even as U.S crude oil cracked $50 a barrel, shares lost their appeal in the face of a rising U.S dollar.
It seems like every data tied to the U.S labor market released ahead of Friday’s NFP can move the market. The weekly report on jobless claims reported a decline of 5,000 to 249,000 in the final week of September. Tomorrow’s report will reveal the number of new jobs added to the US economy last month. A strong reading which indicates a healthy economy will bolster the case for the Fed to raise its rate this year.
The Dow Jones index has ticked down by nearly 0.5% so far on the day, with only 8 out of 30 issues trading higher. Shares of American Express was among the worst performers after the financial services company was downgraded to reduce from neutral by Nomura Holdings.
Wal-Mart Stores Inc. ignited the negative sentiment in the market, after the giant retailer forecast flat earnings next year due to more investment in its e-commerce and digital business platforms .
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