Pre-Market Report – Thursday 5 February: US markets mixed | Tech sold down again

The S&P 500 fell on Wednesday as the sell-off in technology stocks intensified, with losses in Advanced Micro Devices hindering the trade.

The broad market index slid 0.51% and closed at 6,882.72, while the Dow Jones Industrial Average added 260.31 points, or 0.53%, and settled at 49,501.30. The Nasdaq Composite dropped 1.51% to end at 22,904.58. Adding to the risk-off sentiment, bitcoin fell more than 3% after earlier breaking below the $73,000 level.

Meanwhile, ADP on Wednesday released its monthly look at private payroll growth for January, which showed an increase of just 22,000 on the month. That’s below the gain of 45,000 jobs that economists polled by Dow Jones had forecast.

The release generally precedes the Bureau of Labor Statistics report on nonfarm payrolls, but that won’t be out this week due to the partial government shutdown. Due now Feb 11.

SPI down 20 – Gold steady – Copper and uranium slip.

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