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Wall Street corrects buying rally, closes moderately lower

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Wall Street failed to ride on Wednesday’s oil rally (Image: Pixabay)

the rise of Petroleumwhich pulled the actions of the oil and gas sector around the world, was not enough for Wall Street closed in blue. The main stock indices in New York closed the trading session on Wednesday (5th) in decline, correcting the 6% rise (on the average of the three indices) of the last two days.

O dow jones ended the day down 0.14%; O S&P 500 lost 0.20%; it’s the Nasdaq dropped 0.25%.

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Without a robust indicator agenda, Wall Street monitored the OPEC+ in Vienna and the announcement of the drastic production cut for November. In addition, investors followed the ‘payroll’ of the private sector, which showed practically zero growth.

The job market has become the new frontier of concern for the Federal Reserve and markets, as cost pressures from the wage bill continue to put pressure on core inflation indicators.

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Source: Moneytimes

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