US stocks close mixed following jobs data
US stocks ended mixed on Friday as investors pored through the newly-released July jobs report.
US stocks ended mixed on Friday as investors pored through the newly-released July jobs report.
The Dow Jones Industrial Average rose 46.50 points, or 0.17 per cent, to 27,433.48. The S&P 500 was up 2.12 points, or 0.06 per cent, to 3,351.28. The Nasdaq Composite Index slid 97.09 points, or 0.87 per cent, to 11,010.98, Xinhua reported.
Eight of the 11 primary S&P 500 sectors closed higher, with financials up 2.18 per cent, leading the gainers. Technology sank 1.56 per cent, the worst-performing group.
Meanwhile, US-listed Chinese companies traded roughly lower, with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
US employers added 1.8 million jobs in July, less than the increase of 4.8 million in June, the US Bureau of Labor Statistics reported on Friday. The unemployment rate fell to 10.2 per cent from 11.1 per cent.
"The jobs recovery continues, and at a moderately faster-than-expected pace in July. That's the good news," Chris Low, chief economist at FHN Financial, said in a note on Friday.
"The bad news is the pace of recovery is slowing. The easy job gains are behind us and it will be an increasingly slower slog from here unless/until a vaccine allows the economy to fully reopen," he said.
Meanwhile, investors eyed talks on a new US stimulus package.
The wrangle continued as US lawmakers have not settled their differences over the size and scope of the Covid-19 relief bill.
Wall Street also paid close attention to the renewed US-China tensions.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
10:20 AM IST