Strong Jobs Report Fuels Rate Hike Fears, Nasdaq Futures Plunge 1.3%
Tom Rudovsky · Reported by Reuters
More coverage: Technology
Sentiment
Negative
Importance
9
Price
$30,407.812
Mkt Cap
0
52W Low
$21,472.765
52W High
$30,762.199
52W Position
42% above low
Off High
1.2% below high
Rel. Volume
1.1× avg
Market data snapshot near publication time
NDX sits 42% above its 52-week low of $21,472.765.
Summary
May non-farm payrolls significantly exceeded expectations, reporting 172,000 jobs added against an estimate of 85,000. This stronger-than-expected jobs growth has intensified market expectations for the Federal Reserve to hike interest rates. As a result, Nasdaq 100 E-minis plunged 1.33%, reflecting investor concerns over tighter monetary policy and its potential impact on growth stocks.
At the time of this announcement, NDX was trading at $30,407.81 on NASDAQ in the Finance sector. The 52-week trading range was $21,472.77 to $30,762.20. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.