Wall Street ends near flat with eyes on data, Middle East
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The news: Wall Street’s major indices ended little changed, with technology shares gaining but investors nervous about Middle East tensions and more US labour data due this week.
The numbers: Among the main indices: Dow Jones gained 0.09%, the S&P 500 edged up 0.01%, while the Nasdaq added 0.08%. Data showed US private payrolls increased by 143,000 in September, more than expected.
The context: Investors remained nervous amid tensions in the Middle East after Israel and the US vowed to strike back following Iran's attack on Israel on Tuesday, but tech shares still had an upper hand.
Nvidia shares rose 1.6%, helping to lift the S&P 500 technology index. However, Tesla shares fell 3.5% after the electric carmaker reported third-quarter vehicle deliveries below estimates.
Investors are now awaiting September non-farm payrolls data due on Friday, then the start of the earnings season at the end of next week. JPMorgan Chase and other big banks will kick off S&P 500 third-quarter earnings season on 11 October.
Among declining shares, Nike dropped 6.8% after the athletic footwear and apparel maker withdrew its annual revenue forecast just as new chief executive Elliott Hill is set to take charge. Humana Inc shares slumped 11.8% after the health insurer flagged lower enrolment for 2025 in its top-rated Medicare Advantage plans for those aged 65 and above.
Meanwhile, a strike by dockworkers halting shipments at US East Coast and Gulf Coast ports entered its second day with no negotiations scheduled between the two sides.
The source: Reuters
