<\/p>\n
Dow Jones Industrial Average hovered largely flat as U.S. stocks traded unchanged in early deals on Thursday, with Wall Street assessing the latest jobs data that showed a decrease in private payroll growth.<\/p>\n
<\/p>\n
The benchmark index S&P 500 was up 0.1% and Nasdaq Composite gained just 0.2% to see stocks open flat following Wednesday\u2019s largely unchanged close. <\/p>\n
Meanwhile, the Dow Jones Industrial Average flipped briefly green after futures had dipped, putting pressure on bulls early Thursday, but as the market weighed the August private payrolls data, the blue-chip index hovered near the flatline.<\/p>\n
Cryptocurrencies also struggled as Bitcoin (BTC) changed hands near $110,800. Gold hovered around $3,617 per ounce, down by 0.5% but analysts at Goldman Sachs forecast<\/a> a yearly rally to $4,000 if buying pressure persists.<\/p>\n Elsewhere, yields fell, with the 10-year U.S. Treasury yield at 4.19% and the 30-year yield at 4.78%.<\/p>\n <\/p>\n Stocks traded near the flatline after the August private payrolls report showed an increase of only 54,000, compared to economists\u2019 estimates of 75,000 jobs.<\/p>\n Analysts pointed to the data as indicative of U.S. labor market froth, particularly as the reading showed a marked decrease from the revised figure of 106,000 in July. Data firm ADP published the report Thursday morning.<\/p>\n \u201cThe year started with strong job growth, but that momentum has been whipsawed by uncertainty,\u201d said Nela Richardson, chief economist at ADP.<\/p>\n<\/blockquote>\n With the ADP jobs report marking continued labor market weakness, this coming after government\u2019s July jobs openings data also indicated trouble, investors are ramping up bets on the Federal Reserve cutting interest rates this month.<\/p>\nWeak labor market<\/h2>\n
\n