Growth Concerns – Tom Essaye Quoted in Barron’s: Strengthen your market knowledge with a free trial of The Sevens Report.
Stocks Slip as Trading Resumes After the Long Weekend With Renewed Global Growth Concerns Out of China.
“The Dow Jones Industrial Average was down 33 points, or 0.1%. The S&P 500 declined 0.3%, and the Nasdaq Composite was down 0.3%.
Weighing on the markets were “renewed global growth concerns,” said Tom Essaye, founder of The Sevens Report. China’s purchasing-managers’ index (PMI) showed that the country’s services sector expanded at the slowest pace in eight months.
The remainder of the week looks slow on the economic data front, and investors will continue to digest U.S. jobs data from Friday which gave signs to suggest the labor market may be cooling. That’s what the Federal Reserve wants to see as it works to battle historically high inflation through interest-rate hikes.”
Also, click here to view the full Barron’s article published on September 5th, 2023.
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