Wall Street Ends Lower as Strong Jobs Data Lifts Fed Hike Odds to 58%
IXIC sits 28% above its 52-week low of $20,690.249.
Summary
The Nasdaq fell 0.29% to 26,506.99 on Friday after the August jobs report showed 162,000 new payrolls, nearly triple the 56,000 consensus. Markets now price a 58.4% chance of a Fed rate hike this month, up from 49.4% on Thursday. Yields and the dollar rose while stocks eased following the solid jobs report. Semiconductors outperformed, gaining 3.4%, while software and services dropped 2.1%. Lululemon tumbled 17.4% after cutting full-year forecasts, and Adobe fell 6.7% on a CEO succession announcement. Next week's CPI and PPI reports will be key for the Fed's decision.
At the time of this announcement, IXIC was trading at $26,506.99 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Moneycontrol.