1/5/2023, 10:00 PM (Source: TeleTrader)
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US closes lower amidst job data reports

Major stock markets indexes in the United States closed lower on Thursday amid statements from the Federal Reserve that despite inflationary pressure appearing to ease, there is still a need to hold interest rates raised into 2024 until prices are fully under control.

On the other hand, the Federal Reserve also reported that the labor market remained "strong," which was confirmed in a report released by the ADP earlier today. Similarly, initial jobless claims in the US decreased by 19,000. Investors also took on board Ford's record sales of 61,575 electric vehicles in 2022.

The Dow Jones lost 1.02% at the close as Walgreens Boots Alliance dropped by 6.13%. The Nasdaq 100 fell by 1.59%, with CrowdStrike Holdings falling 9.08%. The S&P 500 went down by 1.16%, as Constellation Brands decreased by 9.71%.

The euro declined by 0.77% against the dollar at 3:59 pm ET to sell for $1.05211.

Baha Breaking News (BBN) / KB