US stocks showed mixed results on Friday after a report revealed a slowdown in hiring.
As of 9:50 a.m. ET:
- The Dow Jones Industrial Average was down by 33.29 points (0.08%) at 39,274.71.
- The S&P 500 was slightly up by 0.80 points (0.01%) at 5,537.82.
- The Nasdaq Composite was up by 41.80 points (0.23%) at 18,230.10.
Market Movement
In early trading:
- The S&P 500 remained flat.
- The Dow Jones fell by 0.1%.
- The Nasdaq rose by 0.2%.
Jobs Report
The US labor department reported that hiring in June slowed compared to May. Additionally, the unemployment rate increased to 4.1%, and earlier hiring figures were revised downward. This jobs report is part of a series of data indicating a slowdown in the US economy.
Major Stocks
- Apple, Amazon.com, and Meta Platforms saw their shares rise between 0.7% and 2.2%.
- Alphabet stock increased by 1.6% to a record high.
- Tesla stock fell by 0.6%.
- Macy’s stock surged by 10% after a report that Arkhouse Management and Brigade Capital raised their bid to buy the chain for around $6.9 billion.
Treasury Yields
The yield on the 10-year Treasury note fell to 4.30% from 4.36%.
Oil Prices
Oil prices remained steady:
- Brent crude futures rose by 8 cents (0.1%) to $87.51 per barrel.
- US West Texas Intermediate (WTI) crude futures gained 10 cents (0.1%) to $83.98 per barrel.
Gold Prices
Gold prices reached their highest level in a month following the jobs data:
- Spot gold increased by 0.7% to $2,371.58 per ounce at 09:05 a.m. (1305 GMT).
- US gold futures rose by 0.4% to $2,379.70.
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