US economy creates 235K jobs in August
FOX Business’ Cheryl Casone breaks down the August jobs report.
U.S. stock futures turned modestly lower after the August jobs report fell short of estimates.
Dow Jones Industrial Average futures fell 24 points, or 0.06%, while S&P 500 futures and Nasdaq 100 futures slipped 0.02% and 0.07%, respectively. Both the S&P 500 and the Nasdaq closed at all-time highs Thursday.
The August nonfarm payroll report showed the U.S. economy added just 235,000 jobs, less than the 720,000 estimate. The unemployment rate fell to 5.2%.
In stocks, banks were modestly higher ahead of the jobs report, with Goldman Sachs Group Inc., Bank of America Corp. and JPMorgan Chase & Co. gaining as much as 0.7%.
Elsewhere, mega cap technology companies Apple Inc., Facebook Inc. and Alphabet Inc. were set to open at or near all-time highs.
In deals, the merger between chipmakers Western Digital Corp. and Japan’s Kioxia is on track to receive regulatory approval from Tokyo as long as key technology stays in Japan, Reuters reports, citing two sources with knowledge of the industry regulator’s internal discussions.
Meanwhile, a Bloomberg report said the city of Beijing is considering a plan to take ride-sharing giant Didi Global Inc. under state control.
In commodities, West Texas Intermediate crude oil edged up 14 cents to $70.13 a barrel and gold climbed $3.90 to $1,815.40 an ounce.
Overseas markets were mixed.
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European trading was choppy, with Britain’s FTSE 100 and Germany’s DAX 30 advancing 0.22% and 0.13%, respectively, while France’s CAC 40 slipped 0.42%.
In Asia, Japan’s Nikkei 225 surged 2.05% after Prime Minister Yoshihide Suga said he would not run in his party’s leadership election. Elsewhere, in the region, Hong Kong’s Hang Seng index lost 0.762%, China’s Shanghai Composite fell 0.43%
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