Jobs Data, ISM Services and Fed Beige Book
By Tom LoBianco | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Nvidia, American Express and Disney helped lift stocks Wednesday. The S&P 500 gained 0.5%, the Nasdaq rose 0.5% and the Dow added 0.6%.
Oil prices remained volatile Thursday morning amid escalating U.S.-Iran strikes. WTI traded around $93 a barrel and Brent above $97. The 10-year Treasury yield climbed above 4.8% Wednesday before ending around 4.78%.
ADP reported 38,000 private-sector jobs added in August, offering an early look at the labor market ahead of Friday’s jobs report.
Today’s Focus: More labor-market data arrives Thursday, with weekly jobless claims and revised second-quarter productivity and unit labor costs due at 8:30 a.m. ET. August ISM Services follows at 10 a.m., offering another read on employment and prices.
We’re also taking a closer look at Wednesday’s Fed Beige Book below, which showed prices continuing to rise even as hiring and consumer spending barely budged.
Ciena, Lululemon and DocuSign are among the companies reporting earnings.
Fed Beige Book: Prices Rise as Employment Changes Little: U.S. economic activity increased modestly in recent weeks, while hiring barely moved and businesses continued to face elevated costs, according to the Federal Reserve’s Beige Book released Wednesday.
Employment rose “very slightly” overall, with five of the Fed’s 12 districts reporting no change. Wage growth remained modest to moderate, with stronger gains for skilled construction and manufacturing workers.
Prices continued to rise. Eight districts reported moderate increases, with businesses pointing to higher energy, transportation, metals and petrochemical costs. Some firms said price-conscious consumers were making it harder to pass those costs along.
Consumer spending increased only slightly. Lower-and middle-income households remained cautious, while higher-end spending was stronger. Auto sales stayed subdued amid high fuel prices, financing costs and weak confidence.
ON THE SCHEDULE FOR THURSDAY, SEPTEMBER 3, 2026
-8:30 a.m. ET – Weekly jobless claims, revised Q2 productivity and unit labor costs
-10 a.m. ET – August ISM Services PMI
-Earnings – Ciena, Lululemon and DocuSign
-Friday, 8:30 a.m. ET – August employment report
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