Economic Worries, Disappointing Earnings May Lead To Extended Sell-Off

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Friday, 02 August 2024 10:40:00 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( US Market The major U.S. index futures are currently pointing to a sharply lower open on Friday, with stocks likely to extend the sell-off seen over the course of the previous session. Concerns about the outlook for the U.S. economy may continue to weigh on Wall Street following the release of a closely watched Labor Department report showing employment increased by much less than expected in the month of July. The report said non-farm payroll employment climbed by 114,000 jobs in July after jumping by a downwardly revised 179,000 jobs in June. Economists had expected employment to rise by 175,000 jobs compared to the surge of 206,000 jobs originally reported for the previous month. The Labor Department also said the unemployment rate rose to 4.3 percent in July from 4.1 percent in June. Economists had expected the unemployment rate to remain unchanged. With the unexpected increase, the unemployment rate reached its highest level since hitting 4.5 percent in October 2021. While weaker than expected economic data has recently been a positive for the markets amid expectations it would convince the Federal Reserve to lower... [Read More]( --------------------------------------------------------------- Do you day trade? Trader Alerts streams stocks reaching new highs and lows as well as stocks breaking out of previous volume highs as they happen. It's a powerful tool for day trading ideas. [Learn More / Upgrade]( --------------------------------------------------------------- U.S. Economic Reports The Labor Department released a closely watched report on Friday showing employment in the U.S. increased by much less than expected in the month of July. The report said non-farm payroll employment climbed by 114,000 jobs in July after jumping by... [Read More]( --------------------------------------------------------------- Europe European stocks have fallen on Friday, extending losses from the previous session as a risk-off mood prevailed amid fears that the U.S. Federal Reserve has left it too late to begin cutting interest rates and risks damaging the world's largest economy. On a light day on the economic front, French industrial production recovered in June, largely driven by the rebound in transport equipment output, data from the statistical office INSEE showed. Industrial production registered monthly growth of 0.8 percent in June, in contras... [Read More]( --------------------------------------------------------------- [Sell every Stock except ONE]( Markets are down... But Jeff Clark couldn't care less because he ignores almost every stock in the market except ONE. He lives financially free trading this One Stock Once per month... [Ticker Revealed.]( --------------------------------------------------------------- Asia Asian stocks slumped the most since 2022 on Friday, with Japanese markets leading regional losses. Recession worries gripped markets as weak U.S. manufacturing and labor market data highlighted emerging cracks in the world's largest economy. Heightened Middle East tensions and disappointing earnings updates from Amazon and Intel also dented demand for riskier assets. U.S. treasury yields plummeted, helping lift gold prices higher. Oil prices recovered some ground in Asian trad... [Read More]( --------------------------------------------------------------- Commodities Crude oil futures are tumbling $1.26 to $75.04 a barrel after slumping $1.60 to $76.31 a barrel on Thursday. Meanwhile,... [Read More]( --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +1 888-992-3836. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49