The Dow Jones Industrial Average was up 0.6%, over 150 points, on Wednesday, while the S&P 500 rose 0.4% and the tech-heavy Nasdaq Composite lost 0.2%.for markets, a day after the S&P 500 and Nasdaq closed at new record highs.
Private payrolls increased by 428,000 in August—almost double that of the previous month, but still well below Dow Jones estimates of 1.17 million, according to ADP. Mortgage demand for homebuyers rose 28% from last year, as more people look to take advantage of low rates and move out of cities, according to data from the Mortgage Bankers Association.net worthApple’s stock fell over 1%, despite rallying 4% on Tuesday, its first day of trading following the company’s 4-for-1 stock split.
Other Big Tech stocks moved higher, with Amazon, Facebook and Google-parent Alphabet all rising by around 1% or more.“With a rally of 0.75% yesterday, the S&P 500 kicked off the month with its best start to a September since 2010,” according to Bespoke Investment Group. “Gains of this magnitude are not particularly common for the start of September.” Investors continue to closely watch for updates on the next coronavirus stimulus bill from Congress.
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