Wall Street’s main indexes closed sharply lower on Friday, following strong September employment data raised the likelihood that the Federal Reserve would press ahead with its campaign to raise interest rates that many investors fear will push the economy into recession.
Despite this, the S&P 500 gained 1.5% for the week, while the Dow Jones and Nasdaq gained 2% and 0.7%, respectively.
Standard & Poor’s closed sharply lower on Friday, by 103.90 points, or 2.77%, to close at 3640.62 points. The Nasdaq index lost 418.49 points, or 3.78%, in the last sessions of the week, to record 10654.83 points, while the Dow Jones index fell 620.95 points, or 2.07%, to 29305.99 points.
Labor market
The US labor market slowed slightly in September in a welcome development in the fight once morest inflation, but it remained so solid that the unemployment rate returned to the level it was before the Covid-19 pandemic.
And the US Department of Labor announced on Friday that the unemployment rate fell slightly in September, to 3.5 percent, the rate it reached in July and that recorded before the epidemic. This rate had reached 3.7% in August.
Job creation has also slowed. The US economy added 263,000 jobs last month, especially in the entertainment, hotel and health services sectors, compared to 315,000 in August.
Analysts had unanimously expected the unemployment rate to remain at 3.7 percent, which was recorded in August, and expected the creation of between 250 and 275,000 jobs.
Biden welcomes
US President Joe Biden, whose popularity has declined with rising prices, welcomed the numbers, which he described as an “encouraging indication” that the economy is on the right track, stressing at the same time that more efforts must be made to help American families.
“The job numbers released today are an encouraging indication that we are moving into a phase of stability and steady growth,” Biden said in a tweet, noting that the number of American workers “is greater than ever.”
“More efforts must be made to develop our economy,” he said, adding, “But we are making progress.”
Analysts closely follow the situation of jobs because it is linked to the fight once morest inflation. Paradoxically, any decline in the labor market is both desirable and expected.
In fact, the labor market has been experiencing tension for more than a year due to the shortage of manpower.
Employers face difficulty in hiring and raising salaries to attract candidates and retain their employees, which contributes to raising prices.
Presenting a monthly investigation into creating jobs in the private sector, Nella Richardson, chief economist at IDP Business Services, said Wednesday that “demand from employers remains strong and (labor) availability is improving from workers at the moment.”
In August, the unemployment rate rose slightly to 3.7 percent, following returning to its pre-pandemic level, which was the lowest in more than fifty years.
However, this obscured the good news represented in the return of a large number of those who left the labor market due to Covid, especially women.
reduce inflation
The US Federal Reserve is making efforts to curb inflation. It raises interest rates to slow the economy by discouraging consumption and investment. But it risks causing a recession.
The September job creation numbers match expectations.
Christopher Waller, one of the Federal Reserve’s governors, said Thursday that a level of this kind would show that “the labor market is slowing down a little but remains tense,” and this reinforces his view that the Fed should “focus 100% on reducing inflation” and thus continue to raise interest rates. .
Also, Lisa Cook, a Federal Reserve governor, warned that “policy must remain focused on restoring price stability, which will also lay the foundation for a strong and sustainable labor market.”
European stocks
In Europe, stocks fell sharply, on Friday, following data indicating strong employment growth in the United States reinforced the argument of the Federal Reserve (the US central bank) to continue to raise interest rates by large percentages in its effort to curb inflation.
The pan-European Stoxx 600 index fell 1.2% in the weekend’s session, marking the third consecutive session of losses.
The US jobs data came on the heels of the release of the minutes of the European Central Bank’s latest meeting, on Thursday, which fueled fears of a sharp interest rate hike to contain hyperinflation in the euro zone.
But the pan-European Stoxx 600 index achieved a weekly gain of regarding 1%, as expectations that major central banks might calm a little from the approach of tightening monetary policy contributed to boosting stocks in the first few sessions of the week and pushed the index to the best weekly performance in a month.
(agencies)
Daily Archives
October 8, 2022
War in Ukraine: Moscow opens an investigation into the partial destruction of the Kerch bridge linking Russia and Crimea
written by Alexandra Hartman Editor-in-Chief
Russia on Saturday opened a criminal investigation into the blast that severely damaged the major bridge linking Moscow’s annexed Crimea to the mainland, and which it says was caused by a vehicle explosion. The Russian Investigative Committee said it had “opened a criminal investigation in connection with the incident on the Crimean bridge“. He clarified that the explosion took place following “the explosion of a truck“.
“Today at 06:07 (05:07 in Belgium) on the road part of the Crimean Bridge […] there was a car bomb explosion, which set fire to seven railway tanks that were going to Crimea“, said the committee, quoted by the Russian agencies. “Two road lanes partially collapsed“, underlined the Anti-Terrorism Committee, while specifying that the arch of the bridge was not affected. The head of the Crimean assembly, the regional parliament installed by Russia, Vladimir Konstantinov denounced a coup “Ukrainian vandals“.
Palliative Care: Healing Hearts and Communities – Health and Wellness
written by Alexandra Hartman Editor-in-Chief
The second Saturday in October is World Palliative Care Day, AIM found. A therapeutic modality little spread in the world, which seeks to help, support and improve the situation of terminal patients and their families, so that they can better face the departure of that loved one.
Theme 2022: Healing hearts and communities
Every year, the International Association for the Study of Pain (IASP) establishes a main motto and develops a series of resources so that any association, organization or person can contribute to an event.
The theme for 2022 is “Healing hearts and communities”.
Palliative care, an essential right
Today, the World Health Organization has decreed that palliative care is an essential right for all people. However, 50% of the terminally ill around the world never receive it and 75% die with emotional pain.
In reality, palliative care therapy comprises a wide range of treatments, ranging from the supply of drugs to relieve the patient’s physical pain, to psychological treatment for him and his family, social work and a set of activities that allow him to enjoy in the best way his last moments in this world, given the circumstances.
But what is palliative care?
Palliative care is nothing new. They emerged during the Middle Ages, where they tried to give shelter and relief to the suffering of patients who later perished due to little development in health and the sanitary conditions of the time.
Later, around the year 1967, the first hospice that would accept people with terminal illnesses would appear in London. Its purpose was to provide physical and psychological support, both to patients and their families so that they might cope with grief. In addition, to carry out studies to find new treatments that might lengthen their life span or cure that disease in the future.
However, what we understand today as a hospice is not the same as a hospice. In a palliative care center, the estimated life time for the patient must exceed 6 months and also, there must be a very small probability that the disease will remit. On the other hand, a hospice is a place where there is no turning back and only seeks to provide the best care to the patient and her family nucleus so that they can accept the situation.
Why celebrate a day for palliative care?
The objective is to make people aware of this type of treatment and help them better cope with this type of circumstance.
Specialists in palliative care focus their attention on giving terminally ill patients a new vision of their situation, one in which they can focus on all the good things they sowed and on giving thanks to life, for having allowed them to enjoy it even for a short while. moment.
Another goal that specialists have is to help families prepare for the inevitable and better cope with loss. To do this, they subject the entire family group to psychological and social work therapies, closing any emotional process that is related to the patient.
This time should be the right one, the Surface Studio will finally benefit from a hardware update. However, we should not expect a redesign of the design, but an improvement in the technical data sheet. Starting with the processor, an Intel Core i7 of 11e generation, coupled with 32 GB of RAM and 1 TB of storage. Only one version should be marketed, without the possibility of customization.
Three USB-C Thunderbolt 4 ports would be added to the terminal, joining the two USB-A sockets of the last iteration. On the other hand, the SD card slot should disappear on this Surface Studio 3. The all-in-one PC would also be equipped with a better webcam and certified Dolby Vision and Dolby Atmos.
For the rest, new Surface Pen and Surface Keyboard should be unveiled by Microsoft. A device known as Project Volterra or Black Rock might also show up. It would be a mini-desktop PC, the first of the group, under Snapdragon 8cx Gen 3. This device would be designed by the Surface team, but should not be marketed within the Surface range.
According to Zac Bowden, it is very unlikely that Surface Laptop Studio 2, Surface Go 4, Surface Duo 3, Surface Neo, Surface Laptop SE 2 or
Surface Laptop Go 3 to be announced during the event.