Wall Street today: US stocks mixed after weak jobs data

Wall Street today: US stocks mixed after weak jobs data/Reuters

MINT | July 5, 2024 | 09:36 PM IST | Breaking News | Follow on Google News

Wall Street today: US stocks mixed after weak jobs data

Wall Street today: US stocks mixed after weak jobs data

US stocks were mixed on Friday following a report on the job market that showed a slowdown in hiring.

At 9:50 a.m. ET, the Dow Jones Industrial Average was down 33.29 points, or 0.08 per cent, at 39,274.71, the S&P 500 was up 0.80 points, or 0.01 per cent, at 5,537.82, and the Nasdaq Composite was up 41.80 points, or 0.23 per cent, at 18,230.10.

In early trading, the S&P 500 was flat. The Dow Jones Industrial Average was down 0.1 per cent and the Nasdaq composite was up 0.2 per cent.

According to US labor department data, hiring declined in June as compared to May. 

Additionally, it also said that the unemployment rate rose to 4.1 per cent and the hiring in earlier months was lower than it had previously indicated.

The latest jobs report follows a mass of data showing a slowdown in the US economy.

Shares of Apple, Amazon.com and Meta Platforms rose between 0.7 per cent and 2.2 per cent.

Alphabet stock gained 1.6 per cent to a record high.

Tesla stock declined 0.6 per cent.

Macy’s stock climbed 10 per cent after a report said Arkhouse Management and Brigade Capital raised their bid to buy the department store chain for about $6.9 billion.

The yield on the 10-year Treasury fell to 4.30 per cent from 4.36 per cent.

Crude oil

Oil prices were steady on Friday.

Brent crude futures rose 8 cents, or 0.1 per cent, to $87.51 a barrel by 1301 GMT. US West Texas Intermediate (WTI) crude futures gained 10 cents, or 0.1 per cent, at $83.98.

Bullion

Gold prices surged on Friday to their highest level in a month following US jobs data.

Spot gold was added 0.7 per cent at $2,371.58 per ounce as of 09:05 a.m. (1305 GMT). US gold futures gained 0.4 per cent to $2,379.70. 

MINT