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US stock index futures are in the red after private sector employment data


June, 30 2021
watermark Economic news

The US stock market showed a decline on Wednesday evening, after the release of data on employment in the private sector.


Specifically, Dow futures were down 0.12%, S&P 500 futures were down 0.09%, and the Nasdaq 100 was down 0.03%.


The pressure on the market was provided by data from Automatic Data Processing Inc, according to which the number of jobs in the US private sector in June increased by 692 thousand.


At the same time, the focus of the markets remains the more complete Friday labor statistics from the US Department. Analysts predict that the growth in the number of jobs in June will be 690 thousand compared with an increase of 559 thousand in May, and the unemployment rate will be 5.7% against 5.8% in the previous month.


However, the overall picture in the stock market is not so dire. The S&P growth index, which includes tech giants Apple Inc, Amazon, Facebook Inc and Microsoft Corp, jumped nearly 11.9% this quarter, outperforming undervalued stocks and closing the year-to-date gap.


The S&P 500 rose about 14.3% in the first half, the second best in the first half since 1998. The sector leaders were shares of energy companies, financial firms, real estate and communications services.


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