Dax opens slightly in the black – US labor market data in focus today

2023-09-01 09:44:00

Frankfurt The Dax opens slightly higher on Friday morning and is trading at 15,972 points. On Thursday, the leading German index was up 0.4 percent from trading and closed at 15,947 points.

Today, investors’ attention is primarily focused on economic data. In various major economies, including Germany, the final purchasing managers’ indices (PMI) for the manufacturing sector are published. Index values ​​above 50 signal a positive development. A value of 39.1 is forecast for Germany.

However, the focus is on the current data from the US labor market. The monthly change in the number of employees is considered one of the most important US economic indicators. If job growth decreases, this is considered an indication of a weakening labor market and thus falling consumer spending. Analysts point to the fact that the job market has cooled off somewhat and are forecasting an average of 170,000 non-farm vacancies for August, after 187,000 in July.

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