{"id":11301,"date":"2023-12-10T19:50:39","date_gmt":"2023-12-10T19:50:39","guid":{"rendered":"https:\/\/connectwithfund.com\/markets\/dow-jones-posts-back-to-back-losses-after-u-s-job-openings-fall-to-28-month-low\/"},"modified":"2023-12-10T19:50:41","modified_gmt":"2023-12-10T19:50:41","slug":"dow-jones-posts-back-to-back-losses-after-u-s-job-openings-fall-to-28-month-low","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=11301","title":{"rendered":"Dow Jones posts back-to-back losses after U.S. job openings fall to 28-month low"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002786263\" role=\"document\">\n<p>U.S. stocks closed mostly lower Tuesday after data showed that job openings in the U.S. fell in October to a 28-month low, which may play into expectations that the Federal Reserve is done with its interest-rate hikes.  <\/p>\n<h2>How stocks traded<\/h2>\n<ul class=\"articleList\">\n<li>\n      The Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       fell 79.88 points, or 0.2%, to close at 36,124.56<\/p>\n<\/li>\n<li>\n      The S&amp;P 500<br \/>\n        SPX<br \/>\n       declined 2.6 points, or 0.1%, to 4,567.18<\/p>\n<\/li>\n<li>\n      The Nasdaq Composite<br \/>\n        COMP<br \/>\n       rose 44.42 points, or 0.3%, to finish at 14229.91<\/p>\n<\/li>\n<\/ul>\n<h2>What drove markets<\/h2>\n<p>Stocks were mostly under pressure Tuesday after job openings in the U.S. fell in October to a 28-month low of 8.7 million, adding further evidence that the labor market is cooling off in response to higher interest rates. Job listings declined from a revised 9.4 million in September,\u00a0the Labor Department said Tuesday.<\/p>\n<div class=\"paywall\">\n<p>\u201cThe labor market is unmistakably cooling after running red hot for the last few years,\u201d according to Bill Adams, chief economist for Comerica Bank.<\/p>\n<p>\u201cMarkets should expect demand and supply for labor to come closer into balance, which should solidify expectations the Fed is done tightening, suppressing yields and supporting risk appetite,\u201d Jeffrey Roach, chief economist for LPL Financial, wrote in emailed comments. <\/p>\n<p>Meanwhile, an ISM barometer of business conditions at service companies such as restaurants and hotels rebounded to 52.7% in November from a five-month low of 51.8% in the prior month.\u00a0Economists polled by the Wall Street Journal had expected the index to rise to 52.4%.<\/p>\n<p>Such data will be followed on Wednesday by the ADP survey of private-sector hiring, on Thursday by weekly unemployment claims data and on Friday the nonfarm-payrolls report.    <\/p>\n<p>This week\u2019s economic numbers come after traders flexed their muscles in a strong November rally. The S&amp;P 500 ended Friday at its highest level since March 2022, bolstered by falling bond yields and hopes that easing inflation means the Federal Reserve is done raising interest rates.<\/p>\n<p>The cautious mood is lingering Tuesday, even as benchmark Treasury yields<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       dipped back to three-month lows, as a poor performance out of Asian markets weighed on sentiment. <\/p>\n<p>Hong Kong\u2019s Hang Seng index<br \/>\n        HK:HSI<br \/>\n       fell 1.9% and the Shanghai Composite index<br \/>\n        CN:SHCOMP<br \/>\n       lost 1.7%, both falling to their lowest levels in more than 12 months. Moody\u2019s downgraded its outlook on China\u2019s debt and highlighted the difficulties facing the world\u2019s second-biggest economy.<\/p>\n<p>The Fed will wrap up its next policy meeting on Dec. 13. It is expected to leave interest rates unchanged at a range of 5.25% to 5.50%.<\/p>\n<p>Other U.S. economic updates include the S&amp;P services purchasing managers index for November, which ticked up to 50.8% from 50.6% a month earlier.  <\/p>\n<p>Companies releasing results on Tuesday include NIO<br \/>\n        NIO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/204905836\/composite\" class=\"negative\">-1.47%<\/bg-quote><span>,<\/span><br \/>\n       AutoZone<br \/>\n        AZO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209114484\/composite\" class=\"negative\">-0.46%<\/bg-quote><br \/>\n       and J.M. Smucker<br \/>\n        SJM,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203835894\/composite\" class=\"negative\">-1.43%<\/bg-quote><br \/>\n       before the opening bell rings on Wall Street, followed after the close by Toll Brothers<br \/>\n        TOL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201912487\/composite\" class=\"positive\">+1.86%<\/bg-quote><span>,<\/span><br \/>\n       Asana<br \/>\n        ASAN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/221282045\/composite\" class=\"positive\">+3.85%<\/bg-quote><br \/>\n       and Box<br \/>\n        BOX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208773138\/composite\" class=\"negative\">-0.91%<\/bg-quote><span>.<\/span>\n      <\/p>\n<h2>Companies in focus<\/h2>\n<ul class=\"articleList\">\n<li>\n      <strong>Designer Brands Inc.\u2019s <\/strong>stock<br \/>\n        DBI,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/204656556\/composite\" class=\"negative\">-4.91%<\/bg-quote><br \/>\n       was down 33.3% following weaker-than-expected guidance from the parent company of brands including Keds and Lucky Brand. <\/p>\n<\/li>\n<li>\n      <strong>J.M. Smucker Co.<\/strong> shares<br \/>\n        SJM,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203835894\/composite\" class=\"negative\">-1.43%<\/bg-quote><br \/>\n       were up 3.3% Tuesday after the consumer-staples company beat third-quarter profit estimates, although sales declined and the company lowered guidance. <\/p>\n<\/li>\n<li>\n      <strong>AutoZone Inc. <\/strong>shares<br \/>\n        AZO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209114484\/composite\" class=\"negative\">-0.46%<\/bg-quote><br \/>\n       were up 0.3% Tuesday after the auto-parts retailer\u2019s earnings beat earnings-per-share expectations.  <\/p>\n<\/li>\n<\/ul>\n<p><em>Jamie Chisholm contributed. <\/em><\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/s-p-500-futures-slip-as-raft-of-jobs-reports-looms-a4946b0f?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks closed mostly lower Tuesday after data showed that job openings in the U.S. fell in October to a 28-month low, which may play into expectations that the Federal Reserve is done with its interest-rate hikes. How stocks traded The Dow Jones Industrial Average DJIA fell 79.88 points, or 0.2%, to close at 36,124.56 The S&amp;P 500 SPX declined 2.6 points, or 0.1%, to 4,567.18 The Nasdaq Composite COMP rose 44.42 points, or 0.3%, to finish at 14229.91 What drove markets Stocks were mostly under pressure Tuesday after job openings in the U.S. fell in October to a 28-month<\/p>\n","protected":false},"author":1,"featured_media":11302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-11301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dow Jones posts back-to-back losses after U.S. job openings fall to 28-month low | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"U.S. stocks 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