U.S. stocks extended gains midway through trading on Friday, following the release of jobs report for August.
The Dow traded up 0.85% to 31,924.14 while the NASDAQ rose 0.97% to 11,899.68. The S&P 500 also rose, gaining, 0.97% to 4,005.14.
Leading and Lagging Sectors
Energy shares jumped by 2.5% on Friday. Meanwhile, top gainers in the sector included HighPeak Energy, Inc. HPK, up 13% and Borr Drilling Limited BORR up 10%.
In trading on Friday, health care shares rose by just 0.3%.
The U.S. added 315,000 jobs last month, beating average economist estimates of 298,000 jobs. The U.S. unemployment rate increased to 3.7%, missing the 3.5% level economists had projected. Wages were up 5.2% year-over-year and increased 0.3% from July.
Equities Trading UP
- Hollysys Automation Technologies Ltd. HOLI shares shot up 17% to $19.87. A consortium led by China’s Hollysys Automation Technologies’ management aims to take the U.S.-listed automation and control system maker private in a deal at a $1.8 billion valuation, Reuters reported.
- Shares of PaxMedica, Inc. PXMD got a boost, shooting 34% to $4.6801. PaxMedica Executive Chairman, Director Michael Derby reportED in Form4 filing the purchase of 95,000 shares at $5.25 per share.
- Nano Labs Ltd NA shares were also up, gaining 36% to $6.13 after the Nasdaq Hearings Panel granted the company’s request to continue its listing on the Nasdaq Stock Market..
Equities Trading DOWN
- PolyPid Ltd. PYPD shares tumbled 77% to $1.25 after the company announced its SHIELD I study did not achieve its primary endpoint of reduction in surgical site infections and mortality.
- Shares of Shuttle Pharmaceuticals Holdings, Inc. SHPH were down 68% to $16.88 amid post-IPO volatility.
- Calavo Growers, Inc. CVGW was down, falling 16% to $35.00 after reporting downbeat Q3 earnings.
In commodity news, oil traded up 2.5% to $88.76, while gold traded up 1% at $1,726.90.
Silver traded up 2.3% to $18.065 on Friday while copper rose 0.9% to $3.4385.
European shares were higher today. The eurozone’s STOXX 600 rose 2.02%, London’s FTSE 100 rose 1.83%, while Spain’s IBEX 35 Index surged 1.61%. The German DAX climbed 3.02%, French CAC 40 climbed 2.15% and Italy’s FTSE MIB Index jumped 2.98%.
Producer prices in the Eurozone surged 4% month-over-month in July, recording the biggest increase in four months. The number of people registered as unemployed in Spain climbed by 40,428 month-over-month to 2.92 million in August. Germany’s trade surplus narrowed to €4.9 billion in July from €17.8 billion in the year-ago period.
- The U.S. added 315,000 jobs last month, beating average economist estimates of 298,000 jobs. The U.S. unemployment rate increased to 3.7%, missing the 3.5% level economists had projected. Wages were up 5.2% year-over-year and increased 0.3% from July.
- U.S. factory orders dropped 1% month-over-month in July.
- The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 96,465,120 cases with around 1,072,120 deaths. India confirmed a total of at least 44,442,500 cases and 527,930 deaths, while France reported over 34,547,840 COVID-19 cases with 154,130 deaths. In total, there were at least 608,971,030 cases of COVID-19 worldwide with more than 6,499,070 deaths.
Image and article originally from www.benzinga.com. Read the original article here.