{"id":106450,"date":"2020-11-06T18:11:00","date_gmt":"2020-11-06T15:11:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dow-slightly-lower-after-jobs-data-as-u-s-election-count-continues\/"},"modified":"2020-11-06T18:11:00","modified_gmt":"2020-11-06T15:11:00","slug":"dow-slightly-lower-after-jobs-data-as-u-s-election-count-continues","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dow-slightly-lower-after-jobs-data-as-u-s-election-count-continues\/","title":{"rendered":"#\n  Dow slightly lower after jobs data as U.S. election count continues"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a1bd1edd65\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a1bd1edd65\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-slightly-lower-after-jobs-data-as-u-s-election-count-continues\/#What_are_major_benchmarks_doing\" >What are major benchmarks doing?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-slightly-lower-after-jobs-data-as-u-s-election-count-continues\/#Whats_driving_the_market\" >What\u2019s driving the market?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-slightly-lower-after-jobs-data-as-u-s-election-count-continues\/#Which_companies_are_in_focus\" >Which companies are in focus?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-slightly-lower-after-jobs-data-as-u-s-election-count-continues\/#What_are_other_markets_doing\" >What are other markets doing?<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-slightly-lower-after-jobs-data-as-u-s-election-count-continues\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Dow slightly lower after jobs data as U.S. election count continues<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000059694\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"inline\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          inline\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.640625%;\" data-mobile-ratio=\"66.640625%\" data-layout-ratio=\"66.640625%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-256165?width=140&amp;size=1.5005861664712778 140w,\nhttps:\/\/images.mktw.net\/im-256165?width=540&amp;size=1.5005861664712778 540w,\nhttps:\/\/images.mktw.net\/im-256165?width=620&amp;size=1.5005861664712778 620w,\nhttps:\/\/images.mktw.net\/im-256165?width=700&amp;size=1.5005861664712778 700w,\nhttps:\/\/images.mktw.net\/im-256165?width=860&amp;size=1.5005861664712778 860w,\nhttps:\/\/images.mktw.net\/im-256165?width=1260&amp;size=1.5005861664712778 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-256165?width=620&amp;size=1.5005861664712778\" data-enlarge=\"https:\/\/images.mktw.net\/im-256165?width=1260&amp;size=1.5005861664712778\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            Kena Betancur\/Agence France-Presse\/Getty Images<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>       U.S. stocks were modestly lower in early action Friday, threatening to end a four-day winning streak, as investors sifted through October jobs data, continued to monitor election results, and weighed a surge in COVID-19 cases.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"What_are_major_benchmarks_doing\"><\/span>What are major benchmarks doing?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> The Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"negative\">-0.20%<\/bg-quote><br \/>\n       fell 63.91 points, or 0.2%, to 28,326.27, while the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-0.15%<\/bg-quote><br \/>\n       was off 14.01 points, or 0.4%, at 3,496.44. The Nasdaq Composite<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"negative\">-0.47%<\/bg-quote><br \/>\n       gave up 73.09 points, or 0.6%, to trade at 11,817.84. <\/p>\n<div class=\"paywall\">\n       The Dow on Thursday rose 542.52 points, or 2%, to finish at 28,390.18, while the S&amp;P 500 advanced 67.01 points, or 2%, to close at 3,510.45. The Nasdaq Composite surged 300.15 points, or 2.6%, to end at 11,890.93. Through Thursday, the S&amp;P 500 and Dow were each up more than 7% for the week, while the Nasdaq was up nearly 9%.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Whats_driving_the_market\"><\/span>What\u2019s driving the market?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Stocks were in danger of ending a four-day winning streak that saw equities extend gains in the wake of Tuesday\u2019s U.S. elections, with the continuing vote tally showing Democratic challenger Joe Biden closing in on the 270 electoral college votes needed to defeat President Donald Trump.<\/p>\n<p>Biden moved ahead of Trump in vote counts in Georgia and Pennsylvania early Friday. <\/p>\n<p>The election week rally was attributed in part to expectations for a Biden win coupled with diminishing chances of a Democratic takeover of the Senate, which would make it difficult to repeal the 2017 corporate income tax cut or raise other taxes.<\/p>\n<p> \u201cAt least the market has a narrative: A Democrat President who doesn\u2019t control the Senate, will be less combative on trade, but will be more limited where fiscal policy is concerned,\u201d said Kit Juckes, macro strategist at Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, in a note.<\/p>\n<p> \u201cThis leaves a bigger role for the Federal Reserve, which means even lower rates for longer, even more QE for longer,\u201d he wrote. \u201cSo the dollar is weaker, spreads are tight, equities have rallied around the world this week and volatility is (even) lower than it was.\u201d<\/p>\n<p>Control of the Senate, however, might not be clear until January, with a pair of races in Georgia potentially headed to runoffs.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>While the drama around the U.S. election has been in focus all week, the Labor Department on Friday said the U.S. economy added 638,000 jobs in October, topping expectations for a gain of 503,000 but a slowdown from the pace seen since the labor market began to recover from the COVID-19 pandemic in May. The jobless rate dropped to 6.9% from 7.9%.<\/p>\n<p><strong><em>\u201c<\/em><\/strong>The continuing Improvement in labor market conditions is unambiguous, but so is the slowdown in the pace of gains,\u201d said Jim Baird, chief investment officer of Plante Moran Financial Advisors. \u201cThe wild card in the outlook is the risk presented by the resurgence in COVID-19 and the path forward for additional fiscal stimulus to help bridge the gap for sidelined American workers.\u201d<\/p>\n<p>Meanwhile, the continued rise in COVID-19 infections threatens to squelch the economic rebound. The U.S. on Thursday saw new cases top 100,000 for a second day in a row, marking consecutive records.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Which_companies_are_in_focus\"><\/span>Which companies are in focus?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      Shares of <strong>Uber Technologies Inc.<\/strong><br \/>\n        UBER,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211348248\/composite\" class=\"positive\">+5.76%<\/bg-quote><br \/>\n       were little changed after the ride-hailing company, fresh off its election victory to avoid classifying drivers as workers in California, reported results that showed its business continues to recover from the pandemic.<\/p>\n<\/li>\n<li>\n      <strong>Peloton Interactive Inc.<\/strong><br \/>\n        PTON,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208035743\/composite\" class=\"positive\">+3.53%<\/bg-quote><br \/>\n       shares were down 2% after the interactive exercise-equipment company said sales continued to surge as a result of the pandemic but warned that it continues to struggle with supply issues that make it difficult to keep up with demand.<\/p>\n<\/li>\n<li>\n      Shares of <strong>CVS Health Corp.<\/strong><br \/>\n        CVS,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209664499\/composite\" class=\"positive\">+5.70%<\/bg-quote><br \/>\n       were up more than 3% after the drugstore chain beat estimates for the third quarter and raised its full-year guidance, buoyed by strong demand for coronavirus testing. <\/p>\n<\/li>\n<li>\n       Shares of <strong>Hershey Co. <\/strong><br \/>\n        HSY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202765576\/composite\" class=\"positive\">+2.49%<\/bg-quote><br \/>\n       were up 2.4% after the chocolate and confectionery products company delivered third-quarter profit and revenue that beat expectations, and provided an upbeat full-year outlook.<\/p>\n<\/li>\n<li>\n      <strong>ViacomCBS Inc.<\/strong><br \/>\n        VIAC,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200340870\/composite\" class=\"negative\">-2.26%<\/bg-quote><br \/>\n       shares were down more than 4% after delivering results topped Wall Street expectations.<\/p>\n<\/li>\n<li>\n      Shares of <strong>Marriott International Inc.<\/strong><br \/>\n        MAR,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200170042\/composite\" class=\"positive\">+2.39%<\/bg-quote><br \/>\n       were up 1.4% after the hotel operator reported a surprise third-quarter profit and revenue that fell a little less than forecast, while not providing financial guidance given \u201cnumerous uncertainties\u201d associated with the COVID-19 pandemic. <\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"What_are_other_markets_doing\"><\/span>What are other markets doing?<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>The yield on the 10-year Treasury note<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">0.833%<\/bg-quote><br \/>\n       fell 4.5 basis points to 0.821%.<\/p>\n<p>The pan-European Stoxx 600 Europe Index<br \/>\n        SXXP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599654\/delayed\" class=\"positive\">+0.10%<\/bg-quote><br \/>\n       was little changed, while London\u2019s FTSE 100<br \/>\n        UKX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598409\/delayed\" class=\"positive\">+0.52%<\/bg-quote><br \/>\n       rose 0.5%.<\/p>\n<p>Oil futures were under pressure, with the U.S. benchmark<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-2.52%<\/bg-quote><br \/>\n       down 1.9% near $38.05 a barrel. Gold futures<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.23%<\/bg-quote><br \/>\n       were up 0.4% near $1,955.30 an ounce.<\/p>\n<p>The ICE U.S. Dollar Index<br \/>\n        DXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598269\/delayed\" class=\"negative\">-0.16%<\/bg-quote><span>,<\/span><br \/>\n       a measure of the currency against a basket of six major rivals, was down 0.2%.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"William_Watts\"><\/span>William Watts<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener noreferrer\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21004575-02D4-D4B5-4572-DE92EA1F5A36%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Dow slightly lower after jobs data as U.S. election count continues &#8221; Kena Betancur\/Agence France-Presse\/Getty Images U.S. stocks were modestly lower in early action Friday, threatening to end a four-day winning streak, as investors sifted through October jobs data, continued to monitor election results, and weighed a surge in COVID-19 cases. What are major&#8230;<\/p>\n","protected":false},"author":1,"featured_media":85984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-106450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/106450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=106450"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/106450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/85984"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=106450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=106450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=106450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}