U.S. stocks turned higher midway through trading as investors digested the recent jobs report for the month of June.
The Dow traded up 0.21% to 31,450.12 while the NASDAQ rose 0.21% to 11,646.33. The S&P also rose, gaining, 0.10% to 3,906.65.
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Leading and Lagging Sectors
Health care shares rose by 0.9% on Friday. Meanwhile, top gainers in the sector included MyMD Pharmaceuticals, Inc. (NASDAQ:MYMD), up 30% and Clovis Oncology, Inc. (NASDAQ:CLVS) up 42%.
In trading on Friday, utilities 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 68% to $10.23 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 77% to $0.2830 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 23% to $66.66 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 $27.02 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 12% to $179.74 after the company reported worse-than-expected Q3 EPS and sales results.
Enjoy Technology, Inc. (NASDAQ:ENJY) was down, falling 36% to $0.2570 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 1.6% to $104.35, while gold traded up 0.4% to $1,747.00.
Silver traded up 0.7% to $19.32 on Friday while copper fell 0.9% to $3.5415.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.53%, London’s FTSE 100 rose 0.24% while Spain’s IBEX 35 Index fell 0.22%. The German DAX gained 1.28%, French CAC 40 rose 0.45% and Italy’s FTSE MIB Index gained 0.94%.
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 Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
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.
