US Private Sector Employment Slows in August, Manufacturing Loses Jobs

Weak employment data may increase concerns about an economic slowdown, putting pressure on stock markets. GOOGL shares are already in a short-term downtrend, and technical indicators also point to weakness. The RSI at 44.6 indicates negative momentum, while the MACD is below the signal line and in negative territory. The price is trading below the 20-day and 50-day moving averages. Therefore, the stock is likely to continue its downward trend in the short term due to the news, but the decline is expected to be limited.

The slowdown in private sector employment and job losses in the manufacturing sector could heighten concerns about economic growth and dampen risk appetite. On the technical indicators, the RSI is in neutral territory, but the MACD is issuing a sell signal, and the price is below the SMA50, indicating short-term weakness. The downward trend over the last 24 hours may continue under the influence of the news. However, being just above the SMA20 support suggests that the decline could be limited. Overall, a downward movement can be expected in the short term.