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News

Dow Falls 150 Points; US Economy Adds 353,000 Jobs In January

Author: Avi Kapoor | February 02, 2024 09:48am

U.S. stocks traded mixed this morning, with the Dow Jones index falling around 150 points on Friday.

Following the market opening Friday, the Dow traded down 0.39% to 38,370.46 while the NASDAQ rose 0.56% to 15,447.53. The S&P 500 also rose, gaining, 0.18% to 4,914.99.

Check This Out: Amazon To Rally Over 41%? Here Are 10 Top Analyst Forecasts For Friday

 

Leading and Lagging Sectors

 

Communication services shares rose by 2.9% on Friday.

In trading on Friday, real estate shares fell by 2%.

 

Top Headline

 

U.S. non-farm payrolls increased by 353,000 in January, a jump from the upwardly revised figure of 333,000 for December and well above the expected 180,000.

The unemployment rate remained steady at 3.7%, below the expected 3.8%.

 

Equities Trading UP

 

Intelligent Bio Solutions Inc. (NASDAQ:INBS) shares shot up 90% to $4.57.
Intelligent Bio Solutions said it sees preliminary second-quarter revenue of $0.76 million.

Shares of Minim, Inc. (NASDAQ:MINM) got a boost, surging 45% to $7.30 after gaining more than 22% on Thursday.

Remark Holdings, Inc. (NASDAQ:MARK) shares were also up, gaining 27% to $0.6499.

 

Equities Trading DOWN

 

Cingulate Inc. (NASDAQ:CING) shares dropped 44% to $1.87. Cingulate announced pricing of $7.5 million public offering of 3.750 million shares at $2.00 per share.

Shares of MedAvail Holdings, Inc. (NASDAQ:MDVL) were down 44% to $1.75.

GRI Bio, Inc. (NASDAQ:GRI) was down, falling 25% to $1.46 after the company announced pricing of $5.5 million public offering.

Also Check This Out: Top 4 Health Care Stocks That May Crash This Quarter

 

Commodities

 

In commodity news, oil traded down 0.5% to $73.45 while gold traded down 1% at $2,051.00.

Silver traded down 2.2% to $22.725 on Friday while copper fell 0.7% to $3.8275.

 

Euro zone

 

European shares were higher today. The eurozone’s STOXX 600 gained 0.5%, London’s FTSE 100 rose 0.4% while Spain’s IBEX 35 Index rose 0.7% The German DAX rose 0.7% French CAC 40 rose 0.4% while Italy’s FTSE MIB Index rose 0.5%.

Industrial production in France rose 1.1% month-over-month in December following a 0.5% increase in the prior period. The number of foreign tourist arrivals in Spain surged by 26.2% year-over-year to 5.2 million in December.

 

Asia Pacific Markets

 

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.41%, Hong Kong’s Hang Seng Index falling 0.21% and China’s Shanghai Composite Index falling 1.46%. India’s S&P BSE Sensex, meanwhile, rose 0.61%.

Australian final demand producer price index rose by 0.9% quarter-over-quarter in the fourth quarter, versus a 1.8% rise in the third quarter.

 

Economics

 

Non-farm payrolls increased by 353,000 in January, a jump from the upwardly revised figure of 333,000 for December and well above the expected 180,000.

The unemployment rate remained steady at 3.7%, below the expected 3.8%.

Average hourly earnings showed 0.6% growth for the month, a sharp increase from the previous 0.4% and below the predicted 0.3%.

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Posted In: CING GRI INBS MARK MDVL MINM

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