Nonfarm payrolls fell by 131,000 jobs in July, about double the consensus estimate of 65,000. Meanwhile, excluding government hiring, private sector payrolls increased by 71,000, falling short of the 90,000 gain expected. The unemployment rate remained at 9.5%, while the expectation was for it to rise slightly to 9.6%. Average hourly earnings rose by 0.2% month-over-month, and average weekly hours increased slightly to 34.2 from the 34.1. More from Bloomberg...
The Dow Jones Industrial Average dropped 21 points (0.2%) to 10,654, the S&P 500 Index was 4 points (0.4%) lower at 1,122, and the Nasdaq Composite shed 5 points (0.2%) to 2,288. Crude oil lost $1.31 to $80.70 per barrel, while the Bloomberg gold spot price gained $10.35 to $1,205.30 per ounce. For the week, including dividends, the DJIA gained 1.8%, the S&P 500 Index added 1.8%, and the Nasdaq Composite was up 1.5%.
Magnificent Seven Update
Weekly Analysis Of Magnificent Seven ETFs
Daily Update Of Open Positions...Stocks & ETFs
