Benzinga
Published May 03, 2024 14:44
Updated May 03, 2024 16:10
Dow Jumps Over 400 Points; US Adds 175,000 Jobs In April
Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher this morning, with the Dow Jones index surging over 400 points on Friday.
Following the market opening Friday, the Dow traded up 1.17% to 38,673.45 while the NASDAQ rose 1.76% to 16,120.20. The S&P 500 also rose, gaining, 1.04% to 5,116.83.
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Leading and Lagging Sectors
Information technology shares rose by 2.5% on Friday.
In trading on Friday, energy shares fell by 0.6%.
Top Headline
U.S. employers added 175,000 nonfarm payrolls in April, marking a reduction from the upwardly revised 315,000 reading in March and missing the expected 238,000, the Bureau of Labor Statistics said Friday.
The unemployment rate went from 3.8% to 3.9%, more than the expected 3.8%. Average hourly earnings edged down from 4.1% to 3.9% compared to April 2023, falling more than the expected dip to 4%.
Equities Trading UP
Commodities
In commodity news, oil traded up 0.5% to $79.38 while gold traded down 0.1% at $2,306.70.
Silver traded down 0.5% to $26.685 on Friday, while copper rose 1.2% to $4.5370.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.4%, Germany's DAX rose 0.5% and France's CAC 40 gained 0.6%. Spain's IBEX 35 Index gained 0.1%, while London's FTSE 100 rose 0.5%.
The unemployment rate in the eurozone came in at a record low level of 6.5% in March. The S&P Global UK services PMI rose to 55 in April from 53.1 a month ago. France's government budget deficit shrank to EUR 52.78 billion in January-March 2024 compared to EUR 54.72 billion in the year-ago period, while France's industrial production declined 0.3% month-over-month in March.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Hong Kong's Hang Seng Index jumping 1.48% and S&P BSE Sensex falling 0.98%.
Retail sales in Hong Kong fell 8.6% year-over-year in March versus a 0.5% gain in the prior month..
Economics
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