American stocks declined on Thursday as the latest jobs data could possibly pressure the Federal Reserve to adjust rates.
- The S&P 500, the Nasdaq 100, the Dow Jones Industrial Average, and the MSCI World index all posted declines.
- AN ADP report showed that the private sector employment growth posted its biggest climb in nearly a year, while jobless claims fell below 400,000 for the first time since the COVID-19 pandemic hit.
- An analyst said the jobs data could put more pressure on the Fed to make a move sooner than expected as the economy could be making more than a recovery with an expansion.
- Bonds all posted increases — the 10-year Treasury yields by four basis points, Germany’s 10-year yields by two basis points, and Britain’s 10-year yields by four basis points.
- The Bloomberg Dollar Spot Index rose by 0.7% while the euro, the British pound, and the Japanese yen all posted drops.
- West Texas Intermediate crude was nearly unchanged, while Gold futures declined by 1.9% to mark the biggest drop since March 31.