Stock Market's Worst Month Gets Even More Dicey With Hawkish Fed; US Jobs Data Have Potential to Push Fed Toward Third Jumbo Hike; U.S. Jobless Claims Fall to Lowest Level in Two Months.
US Markets concluded mixed, with the Nasdaq lagging other major benchmarks to close lower ahead of payrolls data
EU Markets closed lower, with Euro zone manufacturing activity shrinking for the second straight month to 49.6 in August
Asia Markets wrapped up in the red, with China’s Caixin/Markit manufacturing PMI for August coming in at 49.5 in August
US ISM Manufacturing held steady in August at 52.8, on the back a strong rebound in employment and new orders
Gold has slipped below the 1700 levels on the back of a stronger dollar which has now hit a 20-year high
WTI Crude Oil remains under pressure as renewed lockdown measures in China stoked fears of reduced fuel demand
NVIDIA and AMD tumbled 7% and 6% respectively, after the US government was said to restrict the sale of AI chips to China
OKTA plunged 33.7% despite beating top and bottom lines as it faced a string of downgrades following its acquisition of Auth0
Hormel Foods retreated 6.5% after lowering its earnings guidance for the year, citing cost inflation as a key concern
- Greatbatch, Inc
Economic Calendar (05 September 2022)
- Singapore S&P Global PMI (August)
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