U.S. stocks traded mostly higher this morning on Friday, following the release of jobs report for August.
The Dow traded up 0.43% to 31,791.57 while the NASDAQ rose 0.20% to 11,808.72. The S&P 500 also rose, gaining, 0.44% to 3,984.23.
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Leading and Lagging Sectors
Energy shares rose by 1.3% on Friday. Meanwhile, top gainers in the sector included HighPeak Energy, Inc. (NASDAQ:HPK), up 7% and Borr Drilling Limited (NYSE:BORR) up 8%.
In trading on Friday, communication services shares fell by 0.7%.
Top Headline
The U.S. added 315,000 jobs last month, beating average economist estimates of 298,000 jobs. The U.S. unemployment rate increased to 3.7%, missing the 3.5% level economists had projected. Wages were up 5.2% year-over-year and increased 0.3% from July.
Equities Trading UP
Cheetah Mobile Inc.. (NYSE:CMCM) shares shot up 57% to $5.26 following effectiveness of its 1-for-5 reverse split.
Shares of PaxMedica, Inc. (NASDAQ:PXMD) got a boost, shooting 45% to $5.09. PaxMedica Executive Chairman, Director Michael Derby reportED in Form4 filing the purchase of 95,000 shares at $5.25 per share.
Nano Labs Ltd (NASDAQ:NA) shares were also up, gaining 43% to $6.43. Nano Labs reported the receipt of Nasdaq Hearings Panel's decision to grant request for continued listing.
Equities Trading DOWN
PolyPid Ltd. (NASDAQ:PYPD) shares tumbled 78% to $1.19 after the company announced its SHIELD I study did not achieve its primary endpoint of reduction in surgical site infections and mortality.
Shares of Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) were down 49% to $26.63 amid post-IPO volatility.
Addentax Group Corp. (NASDAQ:ATXG) was down, falling 37% to $19.00. Addentax shares tumbled 95% on Thursday following the company's uplisting and IPO.
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Commodities
In commodity news, oil traded up 2.2% to $88.47, while gold traded up 0.9% at $1,724.00.
Silver traded up 1.4% to $17.905 on Friday while copper fell 0.1% to $3.4055.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 1.4%, London’s FTSE 100 rose 1.4%, while Spain’s IBEX 35 Index surged 1%. The German DAX climbed 2.5%, French CAC 40 climbed 1.5% and Italy’s FTSE MIB Index jumped 2%.
Producer prices in the Eurozone surged 4% month-over-month in July, recording the biggest increase in four months. The number of people registered as unemployed in Spain climbed by 40,428 month-over-month to 2.92 million in August. Germany’s trade surplus narrowed to €4.9 billion in July from €17.8 billion in the year-ago period.
Economics
The U.S. added 315,000 jobs last month, beating average economist estimates of 298,000 jobs. The U.S. unemployment rate increased to 3.7%, missing the 3.5% level economists had projected. Wages were up 5.2% year-over-year and increased 0.3% from July.
U.S. factory orders dropped 1% month-over-month in July.
The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m.
Check out this: Fear & Greed Index Moves To 'Fear' Zone Ahead Of US Jobs Report
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 96,465,120 cases with around 1,072,120 deaths. India confirmed a total of at least 44,442,500 cases and 527,930 deaths, while France reported over 34,547,840 COVID-19 cases with 154,130 deaths. In total, there were at least 608,971,030 cases of COVID-19 worldwide with more than 6,499,070 deaths.
