Dow Falls 50 Points; US Adds 64,000 Jobs In November

U.S. stocks traded mostly lower this morning, with the Dow Jones index falling more than 50 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.13% to 48,353.11 while the NASDAQ fell 0.01% to 23,054.37. The S&P 500 also fell, dropping, 0.14% to 6,807.09.

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Leading and Lagging Sectors

Information technology shares rose by 0.1% on Tuesday.

In trading on Tuesday, energy stocks fell by 1.8%.

Top Headline

Nonfarm payrolls increased by 64,000 in November, only slightly above the 50,000 jobs expected by economists, but still well below levels typically associated with a healthy pace of job creation, the Bureau of Labor Statistics reported Tuesday.

Private-sector hiring remained a bright spot, with 69,000 private payrolls added, comfortably above expectations of 40,000.

Equities Trading UP
           

• SRx Health Solutions Inc (NYSE:SRXH) shares shot up 117% to $0.66 after the company announced it signed an agreement to acquire EMJ Crypto Technologies.
• Shares of AlphaVest Acquisition Corp (NASDAQ:AMCI) got a boost, surging 31% to $10.30.
• Cementos Pacasmayo SAA – ADR (NYSE:CPAC) shares were also up, gaining 54% to $10.77 after Holcim signed an agreement to purchase 50.01% of the company’s owner, Inversiones Aspi. S.A. of the Hochschild Group.

Equities Trading DOWN

• Zynex Inc (NASDAQ:ZYXI) shares dropped 59% to $0.27 after the company announced it entered into Chapter 11 court-supervised financial restructuring.
• Shares of Radiopharm Theranostics ADR (NASDAQ:RADX) were down 41% to $6.24. Radiopharm Theranostics shares jumped 150% on Monday after the company announced interim RAD 101 Phase 2b clinical imaging trial data showing 92% concordance with MRI, the primary endpoint.
• Saverone 2014 Ltd – ADR (NASDAQ:SVRE) was down, falling 40% to $2.13 after gaining 18% on Monday.

Commodities

In commodity news, oil traded down 1.9% to $55.77 while gold traded up 0.1% at $4,339.70.

Silver traded down 0.4% to $63.33 on Tuesday, while copper fell 0.7% to $5.3770.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 slipped 0.1%, while Spain's IBEX 35 Index fell 0.2%. London's FTSE 100 fell 0.5%, Germany's DAX 40 fell 0.3% and France's CAC 40 gained 0.1% during the session.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Japan's Nikkei falling 1.56%, Hong Kong's Hang Seng dipping 1.54%, China's Shanghai Composite declining 1.11% and India's BSE Sensex falling 0.63%.

Economics

• U.S. retail sales came in flat for October from September, compared to a revised 0.1% gain in the previous month, and down from market estimates of a 0.1% growth.
• The U.S. economy added 64,000 jobs in November, versus a 105,000 loss in the previous month and compared to market estimates of a 50,000 increase.
• The U.S. unemployment rate rose to 4.6% in November from 4.3% in the previous month, compared to market estimates of 4.4% and recording marking the highest reading since September 2021.
• Average hourly earnings for all employees on private nonfarm payrolls rose by 0.1% month-over-month to $36.86 in November compared to a 0.4% rise in the previous month.

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