US Jobs Disappoint and Freeze Wall Street

The stock market session on Wall Street is influenced by negative data on jobs in the United States. According to estimates by the ADP company, non-farm payrolls fell by 33,000 units in June, while analysts expected them to rise by 99,000. After the data, the American indices, which pre-opening futures had predicted would rise, pulled the handbrake. The S&P500 is almost unchanged (+0.08%), -0.30% for the Dow Jones and +0.48% for the Nasdaq of technology. Tesla is still in the spotlight: +3.3% after yesterday's -7% due to Trump's threats to remove all subsidies from Elon Musk's companies. Today it rebounds despite the drop in car deliveries: -14% in the second quarter compared to the previous year. Microsoft is also in the spotlight, because Bloomberg has anticipated that the company intends to cut 9,000 employees, just under 4% of the workforce. This is the second major wave of layoffs this year, after the one involving 6,000 employees in May. Microsoft stocks reacted without shocks, -0.18%. In the afternoon, European stock markets also slowed down: Milan +0.26%. The worst performer was London, -0.28%, also due to tensions in the majority of the British government. Yesterday, the welfare reform passed but with the opposing vote of 42 Labour MPs. On Piazza Affari, the best performers were StMicroelectronics (+4.14%) and Moncler (+3.60%), with greater declines for Unipol (-2.50%) and Mediobanca (-2.30%). This morning, Piazzetta Cuccia announced that Beniamino Gavio, personally and through the financial holding company Aurelia, carried out transactions on Mediobanca shares, which are part of the Consultation Agreement between shareholders.