The major indices are down as stock futures fall on weaker-than-expected jobs growth — and more in Friday’s stock market recap.
The tech-heavy Nasdaq dropped for the third straight day on Thursday after coming within 6% of all-time highs.
The S&P 500 and Dow are also down after both recorded highs earlier this week.
One likely catalyst is the newest jobs report. Data released Friday morning showed less than half as many new jobs, 199,000, were added to payrolls versus forecasts. Unemployment, however, fell to 3.9%.
Investors are waiting to see whether these new numbers will affect the Federal Reserve’s plans to raise interest rates.
Elsewhere in the news, Moderna CEO Stephane Bancel said at a recent healthcare conference that the efficacy of COVID-19 boosters will likely decline over time, similar to the first two doses of its COVID vaccine. This means another booster will likely be needed next fall to increase protection.
This comes at a time when the Supreme Court prepares to hear arguments pertaining to the Biden administration’s efforts to enforce a vaccine-or-testing requirement for large employers as well as a separate vaccine mandate for most health care workers.
In this morning’s stock market recap video, you’ll learn how today’s employment data can shape the market action… whether COVID-19 is still a major factor for stocks in the United States… which sectors Wall Street is buying up right now… whether tech will sell off more… my top closed trade for the week… and what to expect from the market next week.
Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to!
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
- Close: 36,236.47.
- Futures: 36,095.
- Change: -30.
S&P 500 (mini)
- Close: 4,696.05.
- Futures: 4,682.75.
- Change: -4.5.
- Close: 15,765.36.
- Futures: 15,712.5.
- Change: -46.5.
- Close: 2,206.37.
- Futures: 2,201.9.
- Change: -0.8.
Note: Updated as of 9:20 a.m. EST
Do you remember my recent “Turning Point 2022” presentation?
Well, I went live again to close out one of the trades we opened, and discuss the strategy behind it.
Even better, I also gave out a new, free trade! This is the last chance to get in on “Turning Point 2022” and hear my biggest market predictions for the new year.
On Fridays, we’ll review the week that was… We’ll discuss how our trades did, what we learned and how to apply it to next week’s trading plan, and any developing trade setups. This video will put a bow on the week. We’ll also go over winners from my different member strategies.
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.