Market

US Stock Markets React to Disappointing Employment Report and Mortgage Application Surge

Market Opens with Mixed Reactions

Following the release of the ADP employment report, which did not meet analysts' expectations, major stock markets in the United States opened with a flat to lower trend on Wednesday. Investors are also closely monitoring the latest report on US mortgage applications, which saw a significant increase of 20.4% last week. Additionally, there is anticipation around upcoming reports on the country's factory orders and service sector activity.

Stock Performance at Opening Bell

At the opening bell, the Dow Jones Industrial Average and S&P 500 remained flat, while the Nasdaq 100 experienced a decrease of 0.36%. Notably, CrowdStrike Holdings saw a sharp drop of 7.99% at 9:30 am ET.

Currency Movements

In currency markets, the euro strengthened against the dollar, gaining 1.29% and trading at $1.07430 at 9:29 am ET.