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|Global concerns may shrink Wall Street's third-quarter estimates|
Slowing growth in emerging markets and currency fluctuations in anticipation of a U.S. interest rate hike may push third-quarter revenue and earnings estimates lower this month. Estimates have already fallen for 9 out of 10 of the benchmark index's sectors so far this year, according to Thomson Reuters data. This could happen fairly quickly," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.
|U.S. labor market shows some muscle despite slower job growth|
By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth slowed in August, but the unemployment rate dropped to a near 7-1/2-year low and wages accelerated, keeping alive prospects of a Federal Reserve interest rate hike later this month. Nonfarm payrolls increased 173,000 last month after an upwardly revised gain of 245,000 in July, the Labor Department said on Friday. August's gain was the smallest in five months as the factory sector lost the most jobs since July 2013.