US open: Stocks lower following nonfarm payrolls report

By Sharecast News

Sharecast News | 08 Jul, 2022

Wall Street stocks were in the red early on Friday as investors digested last month's nonfarm payrolls report.

As of 1445 BST, the Dow Jones Industrial Average was down 0.04% at 31,370.95, while the S&P 500 was 0.28% weaker at 3,891.79 and the Nasdaq Composite came out the gate 0.51% softer at 11,561.88.

The Dow opened 13.60 points lower on Friday, taking a small bite out of gains recorded in the previous session amid easing commodity prices.

Friday's primary focus will be June's employment report, which revealed US non-farm payrolls growth slowed to 372,000. However, the readings for the previous two months were revised lower by a combined print of 74,000. Average hourly earnings, on the other hand, increased at a month-on-month pace of 0.3%.

Traders were also digesting the latest set of FOMC minutes, which confirmed the central bank was willing to provide further support as part of an effort to manage inflation. However, recession concerns also continued to hang over Wall Street.

Elsewhere on the macro front, May wholesale inventories data and consumer credit change figures will be published at 1500 BST and 2000 BST, respectively.

No major corporate earnings were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

JP Morgan Chase & Co. (JPM) $114.72 0.00%
Boeing Co. (BA) $139.97 0.00%
Cisco Systems Inc. (CSCO) $43.22 0.00%
Merck & Co. Inc. (MRK) $93.01 0.00%
Procter & Gamble Co. (PG) $146.00 0.00%
Goldman Sachs Group Inc. (GS) $298.60 0.00%
Visa Inc. (V) $202.80 0.00%
Unitedhealth Group Inc. (UNH) $514.38 0.00%
Honeywell International Inc. (HON) $230.94 0.00%
Amgen Inc. (AMGN) $247.42 0.00%

Dow Jones - Fallers

S&P 500 - Risers

State Street Corp. (STT) $63.70 0.00%
CVS Health Corp (CVS) $93.73 0.00%
Kansas City Southern (KSU) $293.59 0.00%
Progressive Corp. (PGR) $120.62 0.00%
Albemarle Corp. (ALB) $203.00 0.00%
Fortune Brands & Home Security (FBHS) $62.73 0.00%
Comcast Corp. (CMCSA) $39.94 0.00%
Biogen Inc (BIIB) $217.96 0.00%
Hanesbrands Inc. (HBI) $10.77 0.00%
Extra Space Storage (EXR) $173.06 0.00%

S&P 500 - Fallers

Nasdaq 100 - Risers

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $383.64 0.00%
Apple Inc. (AAPL) $146.35 0.00%
Microsoft Corp. (MSFT) $268.40 0.00%
Activision Blizzard Inc. (ATVI) $78.61 0.00%
Celgene Corp. (CELG) $108.24 0.00%
Booking Holdings Inc. (BKNG) $1,785.92 0.00%
Liberty Global plc Series C (LBTYK) $22.11 0.00%
Intel Corp. (INTC) $38.14 0.00%
Skyworks Solutions Inc. (SWKS) $98.23 0.00%
Shire Plc Ads (SHPG) $179.20 0.00%

Nasdaq 100 - Fallers

US open: Stocks lower following nonfarm payrolls report

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