Dow Falls Over 100 Points; US Economy Adds 22,000 Jobs

U.S. stocks traded mostly lower this morning, with the Dow Jones falling more than 100 points on Friday.

Following the market opening Friday, the Dow traded down 0.30% to 45,481.66 while the NASDAQ rose 0.03% to 21,714.31. The S&P 500 also fell, dropping, 0.19% to 6,489.56.

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Leading and Lagging Sectors

Materials shares jumped by 0.8% on Friday.

In trading on Friday, financial stocks fell by 1.3%.

Top Headline

The U.S. economy added just 22,000 jobs in August, down sharply from July’s 79,000 and far short of the 75,000 economists had expected.

The unemployment rate edged up to 4.3% from 4.2%, in line with forecasts. Wage growth remained steady: average hourly earnings rose 0.3% on the month and 3.7% year-over-year, cooling from July’s 3.9%.

Equities Trading UP
           

• Hour Loop Inc HOUR shares shot up 118% to $4.12.
• Shares of Pineapple Financial Inc PAPL got a boost, surging 71% to $6.98. Pineapple Financial closed $100 million private placement and initiated injective digital asset treasury strategy, becoming the first publicly traded INJ Holder on a national exchange.
• Peraso Inc PRSO shares were also up, gaining 58% to $1.29 after Mobix Labs strengthened its acquisition bid for the company by adding a cash component to its original all-stock offer.

Equities Trading DOWN

• Youxin Technology Ltd YAAS shares dropped 60% to $0.12 after the company announced the pricing of a $6.0 million underwritten public offering.
• Shares of Innovation Beverage Group Ltd IBG were down 31% to $0.38.
• 707 Cayman Holdings Ltd JEM was down, falling 34% to $0.28.

Commodities

In commodity news, oil traded down 2.3% to $62.03 while gold traded up 1% at $3,643.70.

Silver traded up 0.7% to $41.695 on Friday, while copper rose 0.1% to $4.5620.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 slipped 0.1%, while Spain’s IBEX 35 Index fell 0.2%. London’s FTSE 100 rose 0.1%, Germany’s DAX 40 declined 0.6% and France’s CAC 40 fell 0.4% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan’s Nikkei 225 gaining 1.03%, Hong Kong’s Hang Seng gaining 1.43%, China’s Shanghai Composite gaining 1.24% and India’s BSE Sensex falling 0.01%.

Economics

• The U.S. economy added just 22,000 jobs in August, down sharply from July’s 79,000 and far short of the 75,000 economists had expected.
• The unemployment rate edged up to 4.3% from 4.2%, in line with forecasts. Wage growth remained steady: average hourly earnings rose 0.3% on the month and 3.7% year-over-year, cooling from July’s 3.9%.

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