Markets are down today on concerns about interest rates. At the beginning of the week, optimists were hoping that we’d see slower growth in job numbers this week, and that would enable the Fed to raise rates by less than had been feared. However, today ADP published strong US job figures – 208,000 jobs were added in in August, ahead of a forecast of 200,000. So we can expect further nasty rate rises which is bad news for stocks. The S&P 500 is down 0.8% at 3760.

Today’s other news is a rise in the oil price. The OPEC + cartel says it plans to cut oil production by two million barrels a day, pushing up the West Texas price (WTI) by over 1% to $87.66.

Today’s risers include an oil giant, as well as a big producer of frozen French fries. The fallers include a telecom stock and the most famous of Wall Street’s investment banks. Read on for more.

US stock market movers on Wednesday 5 October 2022