Market Recap – October 4th
On Wednesday’s trading day, markets made back some of Tuesday’s losses after September’s private payroll figures came in lower than expected. Earlier in the week, investors grew worrisome after August’s JOLTs report came in far stronger than expected, but it seems now varying labor market data have created volatility in markets. In other positive news, crude oil prices fell roughly $3 a barrel, giving some hope for enough supply to match persisting demand. For the main indices, the S&P 500 rose 0.81%, the NASDAQ Composite went up 1.35%, and the Dow Jones grew 0.39%. Some stocks to outperform indices were cruise lines, such as Royal Caribbean, with its share price growing 2.97%, inversely following the news that oil prices and stocks fell throughout the deal. A stock that wasn’t so fortunate on Wednesday’s trading day was Cal-Maine Foods, with share prices declining 7.28% after the egg producer missed its earnings report, citing a volatile market environment.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.