Edge closes after opening drivers#
Edge closes after opening full#

Edge closes after opening full#

The rising costs as productivity plunged, with companies struggling to secure enough supplies on time to keep production going at full tilt. Unit-labor costs jumped 8.3% in the period from July through September, the government said Thursday. вЂњThat said, there may still be implications for fiscal policy as a major stimulus program winds its way through Congress as fears of inflation rise for the first time in decades.вЂќ вЂњThe next several jobs reports are unlikely to influence monetary policy meaningfully unless theyвЂ™re dramatically better or worse than expected for a sustained period,вЂќ he wrote. It may take some big surprises, however, for jobs reports to move the needle on Fed expectations, said Matt Weller, global head of research at and City Index, in a note. The Labor Department on Thursday said jobless benefit claims dropped by 14,000 to 269,000 in the seven days ended Oct. employment report for October due for release from the Labor Department on Friday, as Fed Chair Jerome Powell linked the possibility of starting the interest rate-hike cycle to a jobs-market recovery. Read: Why the FedвЂ™s long-awaited taper announcement isnвЂ™t rattling the stock market

Edge closes after opening drivers#

Hearden pointed to down days from Goldman SachsДЄs prime drivers of the DowвЂ™s gentle Thursday swoon that still kept it over the 36,000 point level. вЂњWeakness in financials after the 10 year yield backed up today is what hurt the Dow,вЂќ said Tom Hearden, Senior Trader at Skylands Capital.

Interest rates appeared to be the biggest issue for the Dow as the bond market created a big enough reaction in a small corner of the index to bring the whole thing tumbling down.

However, we would acknowledge that the risks are skewed to an earlier move,вЂќ said Ryan Djajasaputra, an economist in London for Investec. вЂњBroadly our view on interest rate policy is that the Fed will remain patient, leaving nine months between the end of QE and any increase in rates, with our expectation of the first hike being Q1 2023. See: Some puzzles left behind after Fed Chair PowellвЂ™s press conference The central bank said it would start reducing purchases by $15 billion per month, after what it called substantial further progress on inflation and labor market goals. The implications of the FedвЂ™s decision Wednesday to begin scaling back its bond purchase program were still being discussed by analysts Thursday. The S&P 500 extended its gains for 2021 to 24%. On Wednesday, the Dow, S&P 500 and Nasdaq Composite ended at records. Was up 128.72 points or 0.81% today to 15940.31, another record for the tech-heavy index. Rose 19.49 points or 0.42% today to 4680.06 a sixth straight record close.