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Stocks Slip Ahead of September Jobs Report

The stock market ended Thursday lower as investors await the highly-anticipated jobs report for September. Oil prices surge amid the possibility of a retaliation attack from Israel against Iran.

Overall, S&P 500 was down 0.2% to 5,670, while NASDAQ was flat at 17,918.

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Chart of the Day

Here is the one-year chart of Uber Technologies (UBER) as of September 4, 2024, when the stock was at $72.

Uber (UBER) announced that it is expanding its partnership with Waymo to bring autonomous taxis to Austin and Atlanta. These two cities will get autonomous ride-hailing in early 2025. The vehicles will be Jaguar I-Pace, provided by Alphabet’s Waymo, while Uber will provide fleet management including upkeep and repairs. This could be a catalyst for Uber, but the company stated that this fleet will only be in the hundreds over time. Investors were excited about this news prior to the market’s open, as the shares jumped to $72 from yesterday’s close of $68. However, the shares have since fallen back to $71 and volume hasn’t been high today.

UBER is on the radar for the Growth Portfolio. David Sharek, Founder of School of Hard Stocks, will wait a little bit more and see what happens.

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