Market Snapshot 5 Oct,23
- 📉 The Dow Jones Industrial Average closed up 0.39% to break a three-day losing streak.
- 💹 The S&P 500 index finished up 0.81%, while the Nasdaq Composite gained 1.35%.
- 📊 Weaker-than-expected labor market data led to a retreat in Treasury yields.
- 💼 ADP reported a rise of only 89,000 private-sector jobs in September, well below expectations.
- 🏢 Business conditions in service-oriented companies slightly declined in September.
- 🛢️ Energy sector stocks saw the largest percentage decline on the day as crude oil prices fell.
- 📈 U.S. bond yields eased lower after hitting 16-year highs, reflecting concerns about higher interest rates.
- 🍎 Apple Inc. closed up 0.7%, despite a downgrade by KeyBanc and concerns about iPhone sales.
- 💉 Moderna Inc. gained 1.1% after reporting positive results for a combination vaccine for COVID-19 and influenza.
- 💻 Intel Corp. announced plans for an IPO of its programmable solutions group in the next few years.
- 🥚 Cal-Maine Foods Inc. tanked 7.3% due to disappointing quarterly results and a drop in egg prices.
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