U.S. stocks fall as Nasdaq slides over 100 points despite strong jobs data

  • U.S. stocks traded lower midway through Friday’s session.
  • 162,000 jobs were created in August, versus estimates of 56,000.
  • Asian markets mostly rose, while European shares finished mixed.

U.S. stocks traded lower midway through Friday’s session, with the Dow down 0.56% at 53,386.54, the Nasdaq Composite down 0.44% at 26,468.00 and the S&P 500 down 0.43% at 7,714.25. Industrials rose 0.3%, while consumer discretionary shares fell 1.7%. The U.S. economy added 162,000 jobs in August, well above estimates of 56,000. The unemployment rate remained at 4.1%, while average hourly earnings rose 0.3% from July and increased 3.1% year over year, compared with 3.2% in July. Immuron, Quanex Building Products and American Outdoor Brands posted gains of 50%, 23% and 42%, respectively, while Guidewire Software, Lululemon Athletica and UiPath fell 21%, 18% and 16%. Oil declined 0.5% to $90.88, gold fell 1.2% to $4,484.60, silver dropped 1.4% to $66.76 and copper rose 0.2% to $6.6795. European markets were mixed, while most Asian markets closed higher.

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