US Stocks Edge Lower; Private Employment Beats Expectations

Author: Avi Kapoor | October 02, 2024 09:16am

U.S. stocks traded lower this morning, with the Dow Jones index falling around 0.1% on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.07% to 42,127.56 while the NASDAQ fell 0.26% to 17,863.49. The S&P 500 also fell, dropping, 0.18% to 5,698.62.

Leading and Lagging Sectors

Energy shares jumped by 1.4% on Wednesday.

In trading on Wednesday, consumer discretionary shares dipped by 1.4%.

Top Headline

Private businesses in the U.S. added 143,000 workers to their payrolls during the month of September compared to a revised 103,000 gain in August and higher than market estimates of 124,000, the ADP said.

Equities Trading UP
                       

• Kaixin Holdings (NASDAQ:KXIN) shares shot up 130% to $0.2890 after dipping 35% on Tuesday.
• Shares of Agora, Inc. (NASDAQ:API) got a boost, surging 95% to $5.36 after gaining 14% on Tuesday.
• MMTec, Inc. (NASDAQ:MTC) shares were also up, gaining 62% to $0.7599. Shares of US-listed Chinese stocks traded higher on continued strength following recent stimulus measures and the start of the National Day Golden Week.

Equities Trading DOWN

• American Rebel Holdings, Inc. (NASDAQ:AREB) shares dropped 43% to $4.30.
• Shares of Eagle Pharmaceuticals, Inc. (NASDAQ:EGRX) were down 31% to $2.44 after the company announced it will be delisted from the Nasdaq.
• Aditxt Inc (NASDAQ:ADTX) was down, falling 36% to $2.85. Aditxt recently announced a 1-for-40 reverse stock split.

Commodities

In commodity news, oil traded up 3.4% to $72.19 while gold traded down 0.5% at $2,676.10.

Silver traded up 1.4% to $32.18 on Wednesday, while copper rose 0.8% to $4.6260.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.3%, Germany's DAX fell 0.7% and France's CAC 40 fell 0.2%. Spain's IBEX 35 Index fell 0.7%, while London's FTSE 100 gained 0.2%.

The unemployment rate in the Eurozone came in unchanged from the previous month at 6.4% in August.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 dipping 2.18% and Hong Kong's Hang Seng Index jumping 6.20%.

Economics

Private businesses in the U.S. added 143,000 workers to their payrolls during the month of September compared to a revised 103,000 gain in August and higher than market estimates of 124,000, the ADP said.

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Posted In: ADTX API AREB EGRX KXIN MTC