Wall Street closed lower on this Friday, September 4, 2026, after a stronger-than-expected employment report showed the creation of 162,000 jobs in August, well above forecasts of 55,000. This data reinforced bets that the Federal Reserve may raise interest rates at the mid-month meeting. The Dow Jones closed at 53,413.60 points, down 0.51%, the S&P lost 0.38% and the Nasdaq Composite retreated 0.29%. The market assigns a probability above 50% to a rate increase, although the decision should depend on next week's inflation data.
President Donald Trump criticized on social media the market's decline despite good employment numbers, accusing the market of living under a "false reality" in which positive results are "killed" by fear of inflation. The president also continued to call on the Fed to lower interest rates, threatening to cut trade with economies with trade deficits.
On the business front, notable declines include UiPath, down more than 16% after financial results that fell short of expectations for artificial intelligence companies, and Lululemon, which dropped more than 17% by missing revenue forecasts and revising its year expectations downward. Tesla retreated about 6% after launching its Cybercab robotaxi commercial service in Austin, Texas.
Oil prices closed slightly higher, consolidating a strong weekly gain driven by the resumption of attacks between the US and Iran, which is in its seventh month of conflict, raising concerns about supply in the Middle East and the Strait of Hormuz. The US Treasury Department also announced sanctions against Turkish bank Golden Global Bank, accused of financing the Islamic Republic of Iran.
