Latest News

Stock market news live updates: Stocks fall as investors mull Fedspeak, await jobs report


S&P 500




Dow 30








Russell 2000




Crude Oil
















10-Yr Bond
















CMC Crypto 200




FTSE 100




Nikkei 225




U.S. stocks were mixed at the start of trading Thursday after a dramatic two-day rally that kicked off the quarter fizzled.

The S&P 500 edged down 0.1%, while the Dow Jones Industrial Average sank 90 points, or 0.3%. The technology-heavy Nasdaq Composite was an outlier — up a modest 0.2%.

The moves early Thursday came after fresh data from the Labor Department showed a jump in the number of Americans filing for first-time unemployment insurance last week. Initial jobless claims rose sharply to 219,000 for the week ended Oct. 1 after sliding to 193,000, the lowest since April in the prior week. Economists called for 203,000 claims, according to consensus estimates compiled by Bloomberg.

Meanwhile in the bond market, Treasury yields nudged higher, with the benchmark 10-year note above 3.77% and the rate-sensitive 2-year yield at 4.17%.

On the commodities front, U.S. crude oil futures sustained a gain of more than 10% this week after OPEC+ on Wednesday approved its heftiest production cut since 2020 – of 2 million barrels a day – after U.S. officials tried and failed to lobby against the move.

“These higher oil prices certainly prevent gasoline prices from continuing their seasonal drop during the winter,” Lipow Oil Associates President Andrew Lipow told Yahoo Finance Live on Wednesday. “The consumer at the gas pump is already going to be seeing the impact over the next couple of weeks.”

Recent economic data reflecting a larger-than-expected drop in job openings and sharp cooldown in manufacturing activity has stoked optimism the Federal Reserve may pivot on its policy tightening plans sooner than expected, but many on Wall Street remain skeptical the data has moderated enough to convince officials to scale back on rate increases.

NEW YORK, US – OCTOBER 5: Traders work at the New York Stock Exchange on October 5, 2022 in New York City. (Photo by Lokman Vural Elibol/Anadolu Agency via Getty Images)

On Tuesday, investors cheered on the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), which showed vacancies dropped 1.1 million to 10.1 million on the last business day of August. However, the ADP’s private employment report showed the U.S. economy added 208,000 jobs in September, more than expected, and continuing a trend of upside surprises to labor market data.

“Prior to non-farm payrolls (NFP) this Friday and CPI next Wednesday, the market has been oscillating between the ‘hawkish Fed’ and ‘Fed pivot’ narrative,” analysts at JPMorgan said in a note Thursday, adding that other data points, including the ADP’s jobs reading, “proves the economy still remains strong and therefore weakens the hope of a near-term pivot from the Fed.”

The Labor Department’s September jobs report due out at 8:30 a.m. ET on Friday morning will prove to be the most important release for investors. Economists expect nonfarm payrolls rose by 260,000 last month, per the latest estimates from Bloomberg.

“Equity bulls would need a print around 100,000 to see the market alter its Fed expectations,” JPMorgan noted.

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

Click here for the latest trending stock tickers of the Yahoo Finance platform

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube



Oil Holds Surge on OPEC+ Output Cut and Russian Supply Warning

(Bloomberg) — Oil held onto three days of gains after the OPEC+ alliance agreed to the biggest production cut since 2020 and Russia warned that a proposed oil price cap could lead to reduced domestic output.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Musk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialSecretive Chip Startup May Help Huawei Circumvent US SanctionsMar-a-Lago Documents Included Pardons, Emails, Legal BillsMass Sho


Treasuries Liquidity Problem Exposes Fed to ‘Biggest Nightmare’

(Bloomberg) — The latest bout of global financial volatility has heightened concerns about regulators’ continuing failure to resolve liquidity problems with US Treasuries — the debt that serves as a benchmark for the world.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Musk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialSecretive Chip Startup May Help Huawei Circumvent US SanctionsMar-a-Lago Documents Included Pardons, Emails, Le


OPEC’s oil cuts force the US to reconsider its foreign policy

OPEC+ announced it’ll slash output by 2 million barrels per day (bpd) on Wednesday (Oct. 5), the biggest cut since the pandemic started in 2020. The White House’s reaction was swift, calling the decision “shortsighted” and accusing the oil cartel of “aligning with Russia.”

Motley Fool

2 Stocks Jumping in Thursday’s Premarket Trading

The stock market continued to try to build a base on Thursday after a punishing first nine months of 2022. Futures markets for the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) showed the likelihood of a flat start when regular trading begins this morning. Below, you’ll learn more about why Pinterest (NYSE: PINS) and Provention Bio (NASDAQ: PRVB) are on investors’ radar Thursday morning and whether their latest moves could be the beginning of a broader move higher.


U.S. weekly jobless claims increase more than expected

The number of Americans filing new claims for unemployment benefits increased more than expected last week, but the labor market remains tight even as demand for labor is cooling amid higher interest rates. Initial claims for state unemployment benefits rose 29,000 to a seasonally adjusted 219,000 for the week ended Oct. 1, the Labor Department said on Thursday. The labor market has been largely resilient, though some cracks are emerging as the Federal Reserve ramps up its monetary policy tightening campaign.

Insider Monkey

12 Best EV Stocks to Buy Now

In this article, we discuss the 12 best EV stocks to buy now. If you want to see more stocks in this selection, check out the 5 Best EV Stocks to Buy Now. Countries around the world are pushing policies to fight climate change and reduce greenhouse gas emissions. Under the Inflation Reduction Act, the […]

Motley Fool

This Stock Could Generate 100x Returns (if It Doesn’t Go Bankrupt First)

Stocks that generate 100x returns don’t come around often, but when they do they can provide outsized returns for any portfolio. One stock that I think has 100x potential is Virgin Galactic (NYSE: SPCE), the space tourism company that’s had trouble getting off the ground as a public company.

Saudi Arabia Defies Expectations and Keeps Oil Prices Steady

Previous article

Crispin Odey Scored a Whopping 193% Return This Year; Here Are 2 Stocks That the Hedge Fund Tycoon Likes

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News