- The Dow Jones tracked sideways ahead of Friday’s jobs report.
- Adding to the risky outlook for the Dow, fresh tariffs are set to go into effect on December 15th.
- All of this equates to a potentially turbulent weekend for Wall Street.
Caution was the name of the game for the Dow Jones on Thursday, as the stock market bellwether leaned sideways ahead of Friday’s jobs report.
With trade war talks going down to the wire to remove December’s planned tariffs, Dow bulls appear reluctant to load up on risk ahead of what could be a turbulent weekend.
Dow Jones Frozen Ahead of Friday’s Jobs Report
Souring risk appetite sent all three of the major US stock market indices sideways on Thursday, with the Dow Jones Industrial Average (+0.07%), Nasdaq (+0.01%), and S&P 500 (+0.12%) all bouncing around their previous closes.
At last check, the Dow had gained 18.2 points to settle at 27,667.98.
The price of gold rose 0.16%, erasing a small portion of Wednesday’s dip, while crude oil tracked sideways with no inventory data to catalyze a move.
Two weak US ISM readings earlier in the week, alongside a miss in ADP non-farm employment, have raised concerns about the strength of Friday’s jobs report. Better news was seen today as jobless claims data beat expectations, raising hopes that employment stats might still be solid. But these statistics failed to move the Dow.
Impeachment proceedings are continuing, but their impact on the Dow appears to be extremely limited.
The same cannot be said for trade war headlines, as China’s reluctance to accept anything other than a reduction in tariffs proves to be the primary stumbling block for negotiations at this time.
Stock Market Faces Potent ‘Risk Cocktail’
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