After hitting one-week lows earlier, the CBOE volatility index, also known as Wall Street’s fear gauge, rose to 25.5 points. All sectors had climbed earlier after the Labor Department reported that firms in the United States employed more people than expected last month. However, average hourly wages increased 0.3%, contrary to expectations of 0.4%, while the jobless rate increased to 3.7%.
All three major indices are on track for a third consecutive weekly drop. The emphasis now switches to the August consumer price report, which is coming mid-month and will be the final big data available before the Fed’s policy meeting on September 20-21. The S&P 500 index set three new 52-week highs and five new lows, while the Nasdaq set 41 new highs and 127 new lows.
Volume on US markets was 6.52 billion shares, compared to a 10.31 billion average for the whole session for the previous 20 trading days.