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On March 6th, analyst Mark Niquette stated that this report casts doubt on whether the labor market has truly stabilized. This comes after the labor market experienced its worst hiring performance in decades outside of recessions. While job growth surged at the beginning of the year and unemployment claims remained stable at low levels, companies may have begun implementing previously announced layoff plans. Furthermore, recent productivity gains suggest that spending in artificial intelligence has enabled some companies to operate with leaner workforces. This data may prompt the Federal Reserve to refocus its attention on the labor market when assessing the duration of interest rate stability. Previously, policymakers had been more focused on inflation—even before the US-Israel war in Iraq triggered investor concerns about price pressures.March 6th - Unexpected job cuts by U.S. employers in February and a rising unemployment rate have raised questions about the health of the labor market. According to data released Friday by the Bureau of Labor Statistics (BLS), nonfarm payrolls fell by 92,000 last month, after a strong start to the year. The unemployment rate climbed to 4.4%. The decline in employment partly reflects a reduction in healthcare jobs due to strikes. Following the data release, spot gold and silver rose across the board as traders increased bets on at least one interest rate cut by the Federal Reserve in 2026.The Stoxx Europe 600 index continued its decline after the release of US jobs data, falling as much as 1% during the session.The Swiss government will request parliamentary approval for an additional 394 million Swiss francs in funding for the F-35A fighter jet program.Swiss Defense Minister: Switzerland currently expects to be able to procure approximately 30 F-35 fighter jets.

At market close, Israeli equities dropped; the TA 35 index declined 0.64 percent

Aria Thomas

Jul 05, 2022 11:10


The Israel stock market declined on Monday evening, with losses in the Banking, Insurance, and Financials sectors leading the slide.


At the market's close in Tel Aviv, the TA 35 fell 0.64 percent.


During the session, Energix (TASE:ENRG) had the best performance on the TA 35, collecting 5.27 percent of 61.00 points to end at 1,218.00. Strauss Group (TASE:STRS) jumped 2.07 percent, or 180 points, to $8,859.00 at the conclusion of trade, while Azrieli Group Ltd (TASE:AZRG) advanced 1.08 percent, or 270 points, to $25,300.00 in late trading.


Israel Corp (TASE:ILCO) ended the day with the worst performance, sliding 3.96 percent, or 6,240.00 points, to 151,260.00. ICL Israel Chemicals Ltd (TASE:ICL) closed the day at 3,097.00, down 3.07 percent, or 98.00 points, while Kenon Holdings Ltd (TASE:KEN) down 2.28 percent, or 310.00 points, to 13,310.00.


On the Tel Aviv Stock Exchange, decreasing stocks outnumbered rising stocks by a ratio of 276 to 201, with 39 remaining unchanged.


The August delivery price per barrel of crude oil increased 1.82 percent, or $1.97, to $110.40. Brent oil for September delivery rose 1.75 percent, or $1.95, to $113.58 per barrel, while the August Gold Futures contract rose 0.28 percent, or $5.00, to $1,802.50 per troy ounce.


The USD/ILS exchange rate fell 0.60 percent to 3.50, while the EUR/ILS exchange rate fell 0.64 percent to 3.65.


The US Dollar Index Futures climbed 0.07 percent to 104.98.


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