Wednesday, 4 September 2024: US Markets resume trading after Labor Day

4 de sep. de 2024 · 6m 8s
Wednesday, 4 September 2024: US Markets resume trading after Labor Day
Descripción

US equity markets resumed trading after the Labor Day long weekend and settled sharply lower to kick-off what is a historically tough month for equities, with investors assessing some weak...

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US equity markets resumed trading after the Labor Day long weekend and settled sharply lower to kick-off what is a historically tough month for equities, with investors assessing some weak manufacturing data while eyeing Friday’s (6 September) key non-farm payrolls figure  - Dow shed -626-points or -1.51%. Intel Corp (down -8.8%) was the worst performer in the 30-stock index. The chipmaker is the worst performing Dow component calendar year-to-date (down -60%) and is in danger of losing its status as a member of the Dow Jones Industrial Average (DJIA). Intel is the lowest-weighted component of the index, making up just 0.3% of the DJIA as of last week. Boeing Co lost -7.32%, with Wells Fargo downgrading the planemaker to "underweight" from "equal weight" and cutting its target price to US$119 from US$185. The analyst pointed to Boeing's "extensive delays and added cost" impacting aircraft production cash flow .
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Autor Morgans Financial Limited
Organización Morgans Financial Limited
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