Stock market today: Nasdaq futures lead markets lower ahead of crucial jobs report
Published On Sep 6, 2024, 6:38 AM
US stocks had a tough week, ending in decline following a disappointing jobs report for August, which showed only 142,000 jobs added, below expectations of 165,000. The unemployment rate did drop to 4.2%, but the overall job growth showed signs of slowing, causing market uncertainty about potential Federal Reserve interest rate cuts. The Nasdaq Composite experienced its worst week since June 2022, dropping over 2.5%. Tech stocks took the hardest hit, with Broadcom and Nvidia seeing significant declines due to poor sales forecasts and overall market sentiment. Investors are closely watching upcoming inflation data, as this may impact future Fed decisions.