For Wall Street, It's a 'Wait-and-See' Day

Markets largely flat as investors await unemployment report
By Newser Editors,  Newser Staff
Posted Aug 4, 2022 3:23 PM CDT
For Wall Street, It's a 'Wait-and-See' Day
People walk past the New York Stock Exchange, Wednesday, Aug. 3, 2022, in New York.   (AP Photo/Julia Nikhinson)

(Newser) – It was a mixed day on Wall Street Thursday, with the major indexes not making big moves in either direction. The Dow fell 85 points to 32,726, the S&P slipped 3 points to 4,151, and the tech-heavy Nasdaq rose 52 points to 12,720. All three changes were well under 1%. Among other things, investors seemed to be waiting on Friday's new unemployment report to better gauge how the economy is doing, reports CNBC.

“I would certainly consider today one of those wait-and-see days while we wait for the most important piece of data that comes out this week,” Art Hogan of B. Riley Financial tells CNBC. A tightening in the labor market might prompt the Fed to ease up on its recent streak of aggressive rate hikes, which would please investors. The AP notes that on Thursday, Twinkie maker Hostess fell after offering a lackluster profit forecast, as did Clorox. (Read more stock market stories.)

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