PSNY - Why Are Stocks Down Today?
2023-10-05 10:54:09 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stocks are down today, and investors wondering why are in the right place as we have the answer to that question!
The reason stocks are down on Thursday has to do with the incoming jobs report that is set to be released tomorrow. Investors are feeling tepid ahead of the report as the data revealed in it will provide insight into the economy.
Specifically, worries about a strong jobs report have stocks down today. If the jobs report comes in too strong, it could show that the Federal Reserve hasn’t done enough to curb inflation. That could result in higher interest rates at its next meeting.
On the flip side of that, a weak jobs report is another concern keeping stocks down today. In this case, investors would have worries about the economy. That includes the potential for a recession climbing alongside a weak report.
Nela Richardson, chief economist with payroll processor ADP, said the following about the jobs report to CNN Business: “The labor market still is solid. It’s slowing, but there is no indication that it’s breaking.”
Let’s check out the stocks down today below with a look at the major indices.
Stock Indices Down Today
- Starting us off is the S&P 500 , with a 0.6% decrease as of Thursday morning.
- Next on our list is the Dow Jones Industrial Average , with its .24% decrease today.
- Finally, the NASDAQ Composite is falling by 0.88% as of this writing.
Let’s check in on more on the latest stock market news below!
InvestorPlace is offering up all of the hottest stock market coverage for Thursday! Among that is what’s moving shares of Tesla (NASDAQ: TSLA ) stock, VinFast (NASDAQ: VFS ) stock and Polestar (NASDAQ: PSNY ) stock today. All of that news is ready at the following links!
More Thursday Stock Market News
- This Key Investor Is Dumping Tesla (TSLA) Stock
- VinFast (VFS) Stock Pops After Reporting Q3 Deliveries
- PSNY Stock Alert: Polestar Just Announced Record Deliveries
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
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