Due to the rise in unemployment rates, the New York Stock Exchange started off on a downward trend.
On the 7th (local time), according to Reuters, the Dow Jones Industrial Average began transactions at 42,503.07, down 76.0 points (0.18%) from the previous session.
The Standard and Poor's (S&P) 500 index opened at 5,726.01, down 12.5 points (0.22%) from the previous session, while the Nasdaq Composite, which consists of technology stocks, started at 18,029.848, down 39.4 points (0.22%).
Ahead of the New York Stock Exchange opening, the U.S. Bureau of Labor Statistics noted that non-farm jobs increased by 151,000 in February. This was below the expert forecast of 160,000 compiled by Bloomberg. The unemployment rate for February was recorded at 4.1%, higher than the expert estimate of 4.0%.
The labor force participation rate, which is used to calculate the unemployment rate, dropped by 0.2% to 62.4%, contributing to the rise in the unemployment rate. This is the lowest figure in two years since January 2023 (62.4%).
The U.S. unemployment rate fell from 4.1% in December last year to 4.0% in January. The decline in January's unemployment rate is analyzed as reflecting adjustments in annual population estimates rather than a decrease in the number of unemployed individuals.
Meanwhile, Jerome Powell, chair of the Federal Reserve, will give a public speech today. Attention is focused on what message will emerge amid the uncertainty surrounding the tariff policies of the Donald Trump administration.