Nasdaq Gains 100 Points; US Economy Adds Fewer Jobs Than Projected

Comments
Loading...

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 100 points on Friday.

Following the market opening Friday, the Dow traded up 0.32% to 42,715.95 while the NASDAQ gained 0.57% to 18,172.21. The S&P 500 also rose, gaining, 0.41% to 5,762.11.

Check This Out: Top 2 Consumer Stocks That Could Blast Off This Quarter

Leading and Lagging Sectors

Energy shares rose by 1.5% on Friday.

In trading on Friday, financial shares dipped by 0.6%.

Top Headline

The February jobs report from the Bureau of Labor and Statistics, released Friday, showed a moderate increase in employment and also a slight increase in the unemployment rate.

The U.S. economy added 151,000 jobs in February, up from a downwardly revised 125,000 in January, but below expectations of 160,000, as tracked by Trading Economics. The unemployment rate ticked unexpectedly higher to 4.1%, above the 4.0% expected.

Equities Trading UP
                       

  • Wheeler Real Estate Investment Trust, Inc. WHLR shares shot up 37% to $1.4395.
  • Shares of SUNation Energy Inc. SUNEgot a boost, surging 148% to $0.4401. SUNation Energy named James Brennan to fill the role of CFO, effective immediately, in addition to his role serving as COO.
  • Bit Origin Ltd BTOG shares were also up, gaining 64% to $0.4587.

Equities Trading DOWN

  • AGM Group Holdings Inc. AGMH shares dropped 24% to $0.1639. AGM Group Holdings recently completed a $5.4 million public offering to expand bitcoin mining operations.
  • Shares of Acurx Pharmaceuticals, Inc. ACXP were down 24% to $0.4933 after the company announced a $1.1 million registered direct offering.
  • Abits Group Inc. ABTS was down, falling 19% to $0.2555. Abits Group recently announced share structure changes and consolidation.

Commodities

In commodity news, oil traded up 1.3% to $67.21 while gold traded down 0.2% at $2,922.20.

Silver traded down 1.4% to $32.880 on Friday, while copper fell 1.7% to $4.7270.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.6%, Germany's DAX 40 fell 1.8% and France's CAC 40 dipped 1.2%. Spain's IBEX 35 Index fell 0.3%, while London's FTSE 100 fell 0.2%.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei dipping 2.17%, China's Shanghai Composite Index falling 0.25% and Hong Kong's Hang Seng Index falling 0.57%, India's BSE Sensex falling 0.01%.

Economics

  • The U.S. economy added 151,000 jobs in February, up from a downwardly revised 125,000 in January, but below expectations of 160,000, as tracked by Trading Economics.
  • The unemployment rate ticked unexpectedly higher to 4.1%, above the 4.0% expected.
  • Average hourly earnings for all employees increased by 0.3% to $35.93, representing a 4.0% increase over the past 12 months.

Now Read This:

ABTS Logo
ABTSAbits Group Inc
$1.641.86%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
2.53
Growth
-
Quality
-
Value
79.48
Price Trend
Short
Medium
Long
Got Questions? Ask
Which energy stocks may benefit from rising prices?
How will financial companies adapt to job growth?
Which real estate investments are gaining traction?
Could consumer stocks surge post-job report?
Which tech companies will thrive in a tight labor market?
Is there an opportunity in bitcoin mining stocks?
What impact will rising unemployment have on consumer spending?
How might gold prices react to economic data?
Which Asian markets could rebound next?
Are there European stocks undervalued amid declines?
Market News and Data brought to you by Benzinga APIs

Posted In: