Dow Falls 150 Points; US Economy Adds 353,000 Jobs In January

U.S. stocks traded mixed this morning, with the Dow Jones index falling around 150 points on Friday.

Following the market opening Friday, the Dow traded down 0.39% to 38,370.46 while the NASDAQ rose 0.56% to 15,447.53. The S&P 500 also rose, gaining, 0.18% to 4,914.99.

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Leading and Lagging Sectors

 

Communication services shares rose by 2.9% on Friday.

In trading on Friday, real estate shares fell by 2%.

 

Top Headline

 

U.S. non-farm payrolls increased by 353,000 in January, a jump from the upwardly revised figure of 333,000 for December and well above the expected 180,000.

The unemployment rate remained steady at 3.7%, below the expected 3.8%.

 

Equities Trading UP

 

Intelligent Bio Solutions Inc. (NASDAQ:INBS) shares shot up 90% to $4.57.
Intelligent Bio Solutions said it sees preliminary second-quarter revenue of $0.76 million.

Shares of Minim, Inc. (NASDAQ:MINM) got a boost, surging 45% to $7.30 after gaining more than 22% on Thursday.

Remark Holdings, Inc. (NASDAQ:MARK) shares were also up, gaining 27% to $0.6499.

 

Equities Trading DOWN

 

Cingulate Inc. (NASDAQ:CING) shares dropped 44% to $1.87. Cingulate announced pricing of $7.5 million public offering of 3.750 million shares at $2.00 per share.

Shares of MedAvail Holdings, Inc. (NASDAQ:MDVL) were down 44% to $1.75.

GRI Bio, Inc. (NASDAQ:GRI) was down, falling 25% to $1.46 after the company announced pricing of $5.5 million public offering.

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Commodities

 

In commodity news, oil traded down 0.5% to $73.45 while gold traded down 1% at $2,051.00.

Silver traded down 2.2% to $22.725 on Friday while copper fell 0.7% to $3.8275.

 

Euro zone

 

European shares were higher today. The eurozone’s STOXX 600 gained 0.5%, London’s FTSE 100 rose 0.4% while Spain’s IBEX 35 Index rose 0.7% The German DAX rose 0.7% French CAC 40 rose 0.4% while Italy’s FTSE MIB Index rose 0.5%.

Industrial production in France rose 1.1% month-over-month in December following a 0.5% increase in the prior period. The number of foreign tourist arrivals in Spain surged by 26.2% year-over-year to 5.2 million in December.

 

Asia Pacific Markets

 

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.41%, Hong Kong’s Hang Seng Index falling 0.21% and China’s Shanghai Composite Index falling 1.46%. India’s S&P BSE Sensex, meanwhile, rose 0.61%.

Australian final demand producer price index rose by 0.9% quarter-over-quarter in the fourth quarter, versus a 1.8% rise in the third quarter.

 

Economics

 

Non-farm payrolls increased by 353,000 in January, a jump from the upwardly revised figure of 333,000 for December and well above the expected 180,000.

The unemployment rate remained steady at 3.7%, below the expected 3.8%.

Average hourly earnings showed 0.6% growth for the month, a sharp increase from the previous 0.4% and below the predicted 0.3%.

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