CNBC Daily Open: Jobs are still growing uncontrollably
Publishing timestamp: 2023-07-07 02:30:01
Summary
U.S. private sector companies added more jobs than expected in June, but concerns over interest rates caused stock market declines. Samsung Electronics reported a significant drop in profits, while Alibaba's shares rose on news of a potential regulatory resolution for Ant Group. U.S. Treasury Secretary Janet Yellen is visiting China to discuss the U.S.-China relationship. Morgan Stanley identified six U.S.-listed Chinese stocks with potential for growth. The ADP jobs report had a negative impact on the stock market, but other data suggests a more balanced labor market. The Labor Department's nonfarm payrolls report for June is expected to provide further clarity.
Sentiment: MIXED
Tickers: BABA, .SPX, BLK, BTC.CB=, .IXIC, .DJI, META,
Keywords: markets, meta platforms inc, beijing, business news, united states, bitcoin, samsung electronics co ltd, economic events, technology, south korea, jobs, nasdaq composite, cryptocurrency, world markets, bitcoin/usd coinbase, larry fink, alibaba group holding ltd, blackrock inc, janet yellen, dow jones industrial average, china, labor economy, s&p 500 index, personnel,
Source: https://www.cnbc.com/2023/07/07/stock-markets-jobs-are-still-growing-uncontrollably.html