Market Analysis: Wall Street's Tech Dip and Employment Outlook Pre-Jobs Report

U.S. stocks remained stable on Thursday, with technology shares slightly declining ahead of the jobs report. Investors anticipate changes in Fed policy and potential market shifts following the recent presidential election. Meanwhile, cryptocurrency stocks fluctuated alongside the bitcoin surge past $100,000.


Devdiscourse News Desk | Updated: 06-12-2024 01:35 IST | Created: 06-12-2024 01:35 IST
Market Analysis: Wall Street's Tech Dip and Employment Outlook Pre-Jobs Report
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U.S. stocks held steady on Thursday, as technology shares dipped following recent gains, with investors on edge for Friday's expected jobs report. Yet, the indexes stayed near recent highs.

Despite a 0.3% slip in the S&P 500 technology index from its record high, major U.S. indexes showed resilience. UnitedHealth shares dropped 4.7%, significantly affecting the Dow and S&P 500, after the CEO of its insurance unit, Brian Thompson, was fatally shot in New York in a targeted attack.

Forecasters predict Friday's employment numbers will reveal a 200,000 increase in November's nonfarm payrolls. Anticipation builds as market participants assess economic conditions and upcoming Fed actions, influenced by a new pro-market administration and Chair Powell's comments on the strengthened economy and rate adjustments.

(With inputs from agencies.)

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