U.S. stocks traded slightly higher toward the end of trading as investors digested the recent jobs report for the month of June.
The Dow traded up 0.24% to 31,460 while the NASDAQ rose 0.28% to 11,654.14. The S&P also rose, gaining, 0.22% to 3,911.36.
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Leading and Lagging Sectors
Health care shares rose by 0.6% on Friday. Meanwhile, top gainers in the sector included Oramed Pharmaceuticals Inc. (NASDAQ:ORMP), up 39% and Clovis Oncology, Inc. (NASDAQ:CLVS) up 32%.
In trading on Friday, materials shares dipped by 0.5%.
Top Headline
The US economy added 372,000 payrolls in June, following a revised 384,000 growth in May. Analysts, however, were expecting for a 268,000 gain in jobs. Average hourly earnings for all employees on private nonfarm payrolls increased 0.3% to $32.08 in June. The US unemployment rate came in unchanged at 3.6% in June.
Equities Trading UP
Seritage Growth Properties (NYSE:SRG) shares shot up 82% to $11.05 after the company appointed Adam Metz as Chairman. Preliminary proxy materials also indicated the board recommended shareholders to approve a proposed plan sale.
Shares of Aditxt, Inc. (NASDAQ:ADTX) got a boost, shooting 58% to $0.2520 after the company's Adimune therapeutic program completed a toxicology study indicating a favorable safety profile of ADI-100.
Kura Sushi USA, Inc. (NASDAQ:KRUS) shares were also up, gaining 32% to $71.51 after the company reported better-than-expected Q3 EPS and sales results. The company also issued FY22 sales guidance above analyst estimates.
Equities Trading DOWN
Upstart Holdings, Inc. (NASDAQ:UPST) shares tumbled 20% to $26.91 after the company cut preliminary Q2 revenue outlook. Additionally, JMP Securities downgraded the stock from Market Outperform to Market Perform.
Shares of WD-40 Company (NASDAQ:WDFC) were down 13% to $179.00 after the company reported worse-than-expected Q3 EPS and sales results.
Enjoy Technology, Inc. (NASDAQ:ENJY) was down, falling 43% to $0.23 after the company announced it has received a written notice of delisting from Nasdaq.
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Commodities
In commodity news, oil traded up 1.5% to $104.24, while gold traded up 0.1% to $1,741.90.
Silver traded up 0.4% to $19.255 on Friday while copper fell 1.5% to $3.5195.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.51%, London’s FTSE 100 rose 0.10% while Spain’s IBEX 35 Index fell 0.27%. The German DAX gained 1.34%, French CAC 40 rose 0.44% and Italy’s FTSE MIB Index gained 1%.
Italy’s industrial production fell 1.1% from a month ago in May versus a revised 1.4% growth in the April. France recorded a current account deficit of EUR 3.9 billion in May versus a revised EUR 2.7 billion gap in the prior month, while trade deficit increased to EUR 13 billion in May from a revised EUR 12.7 billion in the previous month.
Economics
The US economy added 372,000 payrolls in June, following a revised 384,000 growth in May. Analysts, however, were expecting for a 268,000 gain in jobs. Average hourly earnings for all employees on private nonfarm payrolls increased 0.3% to $32.08 in June. The US unemployment rate came in unchanged at 3.6% in June.
Wholesale inventories in the US rose by 1.8% from a month ago to $878.6 billion in May.
The total number of active U.S. oil rigs climbed by 2 to 597 rigs this week, Baker Hughes Inc reported.
Data on consumer credit for May will be released at 3:00 p.m. ET.
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 90,065,160 cases with around 1,045,080 deaths. India confirmed a total of at least 43,587,300 cases and 525,340 deaths, while Brazil reported over 32,761,040 COVID-19 cases with 673,120 deaths. In total, there were at least 558,810,440 cases of COVID-19 worldwide with more than 6,369,440 deaths.
