Dow Drops Over 150 Points; US economy Adds 517,000 Jobs In January

U.S. stocks traded lower, with the Dow Jones dropping over 150 points on Friday.

The Dow traded down 0.51% to 33,881.69 while the NASDAQ fell 1.32% to 12,039.79. The S&P 500 also fell, dropping, 0.98% to 4,138.89.

Check This Out: Check Out 3 High-Yielding Dividend Stocks In Industrials Sector From Benzinga's Most Accurate Analysts

 

Leading and Lagging Sectors

• Energy shares slipped by just 0.1% on Friday. Meanwhile, top gainers in the sector included TORM plc TRMD, up 6%, and NGL Energy Partners LP NGL, up 6%.
• In trading on Friday, real estate shares dipped by 3%.

 

Top Headline

The US economy unexpectedly added 517,000 jobs in January, the most since July, while the unemployment rate declined to 3.4% in January.

 

Equities Trading UP

• ReShape Lifesciences Inc. RSLS shares shot up 122.2% to $14.00 after the company filed a Form RW to withdraw registration of an offering.
• Shares of Structure Therapeutics Inc. GPCR got a boost, shooting 69% to $25.35. Structure Therapeutics announces pricing of $161.1m upsized initial public offering of 10.74 million American Depositary shares at a price of $15 per ADS.
• Structure BBAI shares were also up, gaining 43% to $5.16. Shares of artificial intelligence (AI) and artificial intelligence-related stocks traded higher amid popularity on social media as AI continues to trend.

 

Equities Trading DOWN

• Gaucho Group Holdings, Inc. VINO shares tumbled 48% to $2.79. Gaucho Group recently announced $44 million equity line of credit.
• Shares of Edible Garden AG Incorporated EDBL were down 45% to $4.56 after the company announced pricing of an upsized $10.2 million underwritten public offering.
• MDxHealth SA MDXH was down, falling 42% to $3.63 after the company reported pricing of offering of ADSs in the United States.

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Commodities

In commodity news, oil traded down 3% to $73.59 while gold traded down 2.7% at $1,878.50.

Silver traded down 5.1% to $22.425 on Friday while copper fell 0.9% to $4.0540.

 

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 gained 0.34%, London’s FTSE 100 rose 1.04% while Spain’s IBEX 35 Index fell 0.04%. The German DAX fell 0.21% French CAC 40 rose 0.94% and Italy’s FTSE MIB Index fell 0.55%.

 

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.39%, Hong Kong’s Hang Seng Index dropping 1.36% and China’s Shanghai Composite Index falling 0.68%. India’s S&P BSE Sensex gained 1.5%.

 

Economics

• The US economy unexpectedly added 517,000 jobs in January, the most since July, while the unemployment rate declined to 3.4% in January.
• The S&P Global services PMI was revised higher to 46.8 in January from a preliminary reading of 46.6.
• The ISM services PMI rose to 55.2 in January.