On Friday, September 6th, U.S. markets closed lower after a jobs report revealed a labor market slowdown, causing uncertainty about the Federal Reserve’s next steps on interest rates. All major indexes dropped, with the S&P 500 and Dow seeing their biggest weekly declines since March 2023 and the Nasdaq since January 2022.

In August, the U.S. economy added 142,000 jobs, falling short of the expected 160,000 and following a revised increase of 89,000 in July. The unemployment rate dropped to 4.2% from 4.3%, while average hourly earnings rose by 0.4% to $35.21, compared to a 0.2% gain in July.

Most S&P 500 sectors fell, with communication services, IT, and consumer discretionary, leading the losses, while real estate stocks closed slightly higher.

The Dow Jones Industrial Average was down 1.01% and closed at 40,345.41. The S&P 500 ended the day lower by 1.75% at 5,408.42, while the Nasdaq Composite fell 2.55%, finishing the session at 16,690.83.

Asian Markets Today

Eurozone at 05:30 AM ET

• The European STOXX 50 index gained 0.95%.
• Germany’s DAX rose 0.82%.
• France’s CAC was up 0.79%.
• U.K.’s FTSE 100 index traded higher by 0.69%.

Commodities at 05:30 AM ET

US Futures at 05:30 AM ET

Dow futures were up 0.57%, S&P 500 futures rose 0.70%, and Nasdaq 100 Futures gained 0.93%.

Forex at 05:30 AM ET

The U.S. dollar index rose 0.35% to 101.54, the USD/JPY rose 0.83% to 143.46, and the USD/AUD gained 0.09% to 1.5014.

Photo by Pavel Bobrovskiy via Shutterstock