Dow Jumps 150 Points; US Adds 142,000 Jobs In August

Author: Avi Kapoor | September 06, 2024 09:56am

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

The Dow traded up 0.38% to 40,912.04 while the NASDAQ fell 0.37% to 17,064.86. The S&P 500 also rose, gaining, 0.04% to 5,505.55.

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Leading and Lagging Sectors

Energy shares climbed by 0.6% on Thursday.

In trading on Thursday, information technology shares fell by 0.7%.

Top Headline

The U.S. economy added 142,000 jobs in August versus a revised 89,000 gain in July, but down from market estimates of 160,000.

The unemployment rate fell to 4.2% in August from 4.3% in the previous month.

Equities Trading UP

BloomZ Inc. (NASDAQ:BLMZ) shares shot up 131% to $1.8701 after the company announced it entered into a business agreement with CrossVision for joint entertainment offerings.
Shares of Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) got a boost, surging 89% to $7.84 after the company and its subsidiary, Cedar Realty Trust, announced that the United States Court of Appeals for the Fourth Circuit affirmed a 2023 order dismissing a putative class action complaint filed against the company and Cedar by purported holders of Cedar’s preferred stock.
Beneficient (NASDAQ:BENF) shares were also up, gaining 73% to $2.5906.

Equities Trading DOWN

Autozi Internet Technology (Global) Ltd. (NASDAQ:AZI) shares dropped 24% to $1.3796.
Shares of Planet Labs PBC (NYSE:PL) were down 21% to $1.9593 after the company reported worse-than-expected second-quarter sales results. Also, Needham maintained a Buy rating on the stock but lowered its price target from $7 to $5.
Genesco Inc. (NYSE:GCO) was down, falling 17% to $24.31 following second-quarter results.

Commodities

In commodity news, oil traded up 1% to $69.82 while gold traded down 0.4% at $2,533.40.

Silver traded down 0.5% to $28.960 on Friday, while copper fell 0.6% to $4.1140.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.3%, Germany's DAX rose 0.1% and France's CAC 40 rose 0.2%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.1%.

The GDP in the Eurozone grew by 0.2% on quarter during the second quarter. The number of employed persons in the Eurozone increased by 0.2% from the prior quarter during the three months to June.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 0.72%, China's Shanghai Composite Index falling 0.81% and India's BSE Sensex falling 1.24%.

Foreign exchange reserves held by the Reserve Bank of India jumped to $684 billion as of Aug. 30, 2024.

Economics

The U.S. economy added 142,000 jobs in August versus a revised 89,000 gain in July, but down from market estimates of 160,000.
The unemployment rate fell to 4.2% in August from 4.3% in the previous month.

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