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Major U.S. stock indexes dipped on Thursday ahead of Friday’s monthly U.S. payrolls report, with investors also monitoring the escalating conflict in the Middle East. Data showed a slight increase in Americans filing for unemployment benefits last week, although the impact from Hurricane Helene and port strikes could distort the labor market outlook in the short term. The focus remains on Friday’s employment report for September.

Investors are proceeding cautiously as they await the jobs report, Inflation data, and the upcoming earnings season against the backdrop of the Middle East tensions. The Federal Reserve’s recent interest rate cut has added to market uncertainty.

Despite the negative sentiment, the Institute for Supply Management survey revealed a surge in U.S. service sector activity in September, indicating a resilient economy in the third quarter. However, major indexes were in the red, with the Dow Jones Industrial Average down 0.58%, the S&P 500 dropping 0.32%, and the Nasdaq declining 0.22%.

Energy shares and oil prices rose on concerns of a broader Middle East conflict disrupting global crude supplies, boosting the S&P 500 energy index. A workers’ strike on the coasts further added pressure, potentially impacting Consumer prices. Constellation Brands saw a slight decline after maintaining its fiscal year 2025 sales and profit forecast.

Declining issues surpassed advancing ones on the NYSE and Nasdaq, indicating bearish sentiment. The S&P 500 and Nasdaq registered mixed new highs and lows.

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