US Stocks Down; Nonfarm Payrolls Rise By 199,000 In November

U.S. stocks traded mostly lower this morning, following the release of jobs data on Friday.

Following the market opening Friday, the Dow traded down 0.08% to 36,089.67 while the NASDAQ fell 0.24% to 14,306.13. The S&P 500 also fell, dropping, 0.12% to 4,580.07.

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Leading and Lagging Sectors

 

Energy shares rose by 0.8% on Friday.

In trading on Friday, communication services shares fell by 0.8%.

 

Top Headline

 

Non-farm payrolls grew by 199,000 in November, an increase from the 150,000 reported in October and above the expected 180,000.

The unemployment rate fell to 3.7% in November from 3.9% in the previous month.

 

Equities Trading UP

 

Intensity Therapeutics, Inc. INTS shares shot up 153% to $10.61. Intensity Therapeutics presented INT230-6 data in early-stage breast cancer patients.

Shares of MBIA Inc. MBI got a boost, shooting 74% to $12.82 after the company announced it declared an extraordinary cash dividend on MBIA common stock of $8.00 per share.

Exicure, Inc. XCUR shares were also up, gaining 49% to $0.6411 after gaining more than 5% on Thursday.

 

Equities Trading DOWN

 

Cyngn Inc. CYN shares dropped 45% to $0.2207 after the company announced pricing of $5 million public offering of common stock of 33,333,333 shares at $0.15 per share.

Shares of Golden Heaven Group Holdings Ltd. GDHG were down 28% to $1.66. Golden Heaven Group shares dipped 89% on Thursday after the company announced that it intends to enter into an operating lease framework agreement with a top-tier Chinese amusement group.

Applied UV, Inc. AUVI was down, falling 26% to $0.0806. Applied UV announced a 1-for-25 reverse stock split.

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Commodities

 

In commodity news, oil traded up 2% to $70.73 while gold traded down 1.3% at $2,020.00.

Silver traded down 1.8% to $23.635 on Friday while copper rose 0.9% to $3.8305.

 

Euro zone

 

European shares were higher today. The eurozone’s STOXX 600 rose 0.4%, London’s FTSE 100 rose 0.5% while Spain’s IBEX 35 Index rose 0.4% The German DAX climbed 0.4% French CAC 40 surged 0.9%, while Italy’s FTSE MIB Index rose 0.4%.

Germany’s consumer price inflation rate fell to 3.2% year-over-year in November from 3.8% in October. Payroll employment within the French private sector rose by 0.1% to 21.10 million in the third quarter.

 

Asia Pacific Markets

 

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 falling 1.68%, Hong Kong’s Hang Seng Index falling 0.07% and China’s Shanghai Composite Index gaining 0.11%. India’s S&P BSE Sensex, meanwhile, rose 0.44%.

Japan’s economy shrank by 2.9% on an annualized basis in the third quarter following a revised 3.6% increase in the second quarter, while current account surplus came in at JPY 2,582.8 billion for October. The gauge for Japan's service sector confidence came in unchanged at 49.5 in November, while value of loans in Japan rose 2.8% year-over-year in November.

The Reserve Bank of India kept its benchmark policy repo unchanged at 6.5% for the fifth straight meeting in December.

 

Economics

 

Non-farm payrolls grew by 199,000 in November, an increase from the 150,000 reported in October and above the expected 180,000.

The unemployment rate fell to 3.7% in November from 3.9% in the previous month.

On a monthly basis, average hourly earnings increased by 0.4%, accelerating compared to October’s 0.2% and beating the expected 0.3%.

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