Big Jobs Report Miss Dampens Market Mood

The DOW retreated on Friday, and the S&P 500 slipped from record highs after the August jobs report came in short of expectations, showing the impact of the delta variant Covid resurgence on the workplace.

The DOW lost 74.73 points or -0.21%, to close at 35,369.09, while the S&P 500 edged lower by -0.03% to 4,535.43. The NASDAQ gained +0.21% on the day to close with a new record close of 15,363.52.

The NASDAQ was the best performing index for the week, rising +1.55%. The S&P 500 gained +0.58%, while the DOW ended up down or -0.24% week.

Nonfarm payrolls increased by 235,000 in August, the Labor Department said Friday. Economists surveyed by Dow Jones were expecting 720,000 jobs. The report marks a significant slowdown from July's revised number of 1.053 million and comes as the delta variant of Covid-19 has led to health restrictions being put back in place in some states and cities.

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2 thoughts on “Big Jobs Report Miss Dampens Market Mood

  1. Until the looney-tuners on the right get in step with otherwise reasonable folks across our country and get a vaccination immediately, business infrastructure will remain confused.

    You can’t plan any long-term projects or hiring when your base…the folks that use your product on a consistent basis…are disrupted by the scourge of covid and its variants

    Further spreading by unvaccinated folks.

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