The Stock Markets in New York Opened Higher on Friday
The stock markets in New York opened higher on Friday, after the sharp price losses a day earlier under pressure from strong minuses for the technology sector on Wall Street.
Investors’ attention is mainly focused on the US government jobs report, which provides more clarity about the extent of the recovery of the US economy from the corona crisis.
Shortly after the start, the Dow Jones index posted 0.6 percent in the plus at 28,465 points. The broad-based S&P 500 rose 0.6 percent to 3,474 points, and the Nasdaq technology exchange was up 0.5 percent to 11,516 points.
The primary degree meters fell to 5 percent on Thursday. It was the most substantial one-day decline for indices since June. This ended a string of profit days for the Nasdaq and S&P 500 that had set new record levels.
In August, some 1.4 million new jobs were added, according to the US Department of Labor. That is a smaller increase than a month earlier but was roughly in line with what economists had generally expected.
Unemployment in the United States fell to 8.4 percent from 10.2 percent in July. Not only does this have to be good news, but it could also indicate a withdrawal of Americans from the labour market now that the chances of finding a new job are less likely.
Tesla won 3.6 percent. The electric car maker has lost more than 18 percent of its market value in the past three days.