Dow Dips 400 Points; US Adds Fewer Than Expected Jobs

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling around 400 points on Friday.

The Dow traded down 0.93% to 44,333.38 while the NASDAQ dipped 1.32% to 19,530.62. The S&P 500 also fell, dropping, 0.84% to 6,032.71.

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Leading and Lagging Sectors

Energy shares surged by 0.7% on Friday.

In trading on Friday, consumer discretionary shares fell by 2.3%.

Top Headline

Nonfarm payrolls rose by 143,000 in January 2025, marking a sharp slowdown from the upwardly revised 307,000 in December and missing economist expectations of 170,000, as tracked by TradingEconomics.

The unemployment rate inched down from 4.1% to 4% in January, beating expectations of a stable reading.

Equities Trading UP

Doximity, Inc. DOCS shares shot up 36% to $79.24 after the company reported better-than-expected third-quarter financial results and issued FY25 guidance above estimates.
Shares of Conduit Pharmaceuticals Inc. CDTgot a boost, surging 92% to $2.97 after the company announced it completed all milestones in Phase I of its strategic collaboration with Sarborg Limited.
Farmer Bros. Co. FARM shares were also up, gaining 32% to $2.3696 after the company reported better-than-expected second-quarter EPS results.

Equities Trading DOWN

Nikola Corporation NKLA shares dropped 37% to $0.4767 following a report suggesting that the company is exploring bankruptcy filing.
Shares of BILL Holdings, Inc. BILL were down 33% to $64.08. The company issued third-quarter total revenue guidance below estimates.
Newell Brands Inc NWL was down, falling 25% to $7.28 after the company issued first-quarter adjusted EPS guidance below estimates

Commodities

In commodity news, oil traded up 0.5% to $70.95 while gold traded up 0.3% at $2,886.00.

Silver traded down 1.1% to $32.285 on Friday, while copper rose 3.2% to $4.6020.

Euro zone

European shares were lower today. The eurozone's STOXX 600 slipped 0.38%, Germany's DAX 40 fell 0.53% and France's CAC 40 fell 0.43%. Spain's IBEX 35 Index fell 0.33%, while London's FTSE 100 fell 0.31%.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei 225 falling 0.72%, China's Shanghai Composite Index climbing 1.01%, Hong Kong's Hang Seng Index gaining 1.16% and India's BSE Sensex falling 0.25%.

Economics

Nonfarm payrolls rose by 143,000 in January 2025, marking a sharp slowdown from the upwardly revised 307,000 in December and missing economist expectations of 170,000, as tracked by TradingEconomics.
The unemployment rate inched down from 4.1% to 4% in January, beating expectations of a stable reading.
Average hourly earnings, a key measure of wage inflation, spiked 0.5% month-over-month, topping expectations of 0.3% and marking the highest increase since January 2024.
The University of Michigan consumer sentiment declined to 67.8 in February compared to 71.1 in January and down from estimates of 71.1.
The total number of active U.S. oil rigs rose by one to 480 rigs this week, Baker Hughes Inc reported.

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