(CTN News) – After a spike in unemployment, the S&P 500 ended higher on Friday, while shares of streaming firms fella rate dispute between Disney and Charter Communications.
According to the Labor Department’s report, the unemployment rate rose from 3.8% to 3.8% in August, while wage growth slowed down.
It was reported yesterday that nonfarm payrolls expected, though revised downward to 157,000 new jobs.
As a result of those results, it was confirmed that the Federal Reserve is winning its battle againstcemented expectations that the Federal Reserve is nearing the end of its
According to the data, it is quite likely that the Fed will become more dovish as we head into the fall season. According to S&PBuchanan, a portfolio manager at GLOBALT Investments in Atlanta, “If the end of tightening comes sooner than later, that could lead to a substantial rally in stocks,” he said.
CME’s FedWatch tool indicates that traders believe there is a 93% chance that the Federal Reserve will keep the interest rate unchanged at its meeting later thisbased on futures prices for interest rates.
The stocks of Walt Disney Company and Charter Communications fell after both companies traded salvos over an unresolved issue with their distributionafter several channels, including ESPN, went dark for customers using Spectrum cable service from Charter on Thursday the unresolved issue.
There were also other streaming companies that suffered losses, including WarnerDiscovery, Paramount Global, and Fox Corp.
the electric vehicle maker cut prices for its Model S and Model X vehicles in the US. Unofficially, the S&P 500 gained 0.18% and ended the session at 4,515.74 points.
There was a decline of 0.02% in the S&P 500 Nasdaq to 14,031.82the Dow Jones Industrial Average rose by 0.34% to 34,838.47 points.
There will be no trading on the US stock market on Monday as itDay holiday in the US.
after the chipmaker forecast revenue for its current quarter that fell short of Dell Technologies surged after the personal computer maker raised its forecasts for revenue and profits for the year ahead.
As the yogawear makerits annual profit forecasts and revenue expectations for the second time in a row, Lululemon Athletica gained.
As a result of the announcement that S&P 500 CEO Rosalinddown, Walgreens Boots Alliance’s stock fell.