Dow Rises 75 Points; Kura Sushi USA Shares Spike Higher
U.S. stocks traded slightly higher toward the end of trading as investors digested the recent jobs report for the month of June.
The Dow traded up 0.24% to 31,460 while the NASDAQ rose 0.28% to 11,654.14. The S&P also rose, gaining, 0.22% to 3,911.36.
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Leading and Lagging Sectors
Health care shares rose by 0.6% on Friday. Meanwhile, top gainers in the sector included Oramed Pharmaceuticals Inc. (NASDAQ:ORMP), up 39% and Clovis Oncology, Inc. (NASDAQ:CLVS) up 32%.
In trading on Friday, materials shares dipped by 0.5%.
Top Headline
The US economy added 372,000 payrolls in June, following a revised 384,000 growth in May. Analysts, however, were expecting for a 268,000 gain in jobs. Average hourly earnings for all employees on private nonfarm payrolls increased 0.3% to $32.08 in June. The US unemployment rate came in unchanged at 3.6% in June.
Equities Trading UP
Seritage Growth Properties (NYSE:SRG) shares shot up 82% to $11.05 after the company appointed Adam Metz as Chairman. Preliminary proxy materials also indicated the board recommended shareholders to approve a proposed plan sale.
Shares of Aditxt, Inc. (NASDAQ:ADTX) got a boost, shooting 58% to $0.2520 after the company's Adimune therapeutic program completed a toxicology study indicating a favorable safety profile of ADI-100.
Kura Sushi USA, Inc. (NASDAQ:KRUS) shares were also up, gaining 32% to $71.51 after the company reported better-than-expected Q3 EPS and sales results. The company also issued FY22 sales guidance above analyst estimates.
Equities Trading DOWN
Upstart Holdings, Inc. (NASDAQ:UPST) shares tumbled 20% to $26.91 after the company cut preliminary Q2 revenue outlook. Additionally, JMP Securities downgraded the stock from Market Outperform to Market Perform.
Shares of WD-40 Company (NASDAQ:WDFC) were down 13% to $179.00 after the company reported worse-than-expected Q3 EPS and sales results.
Enjoy Technology, Inc. (NASDAQ:ENJY) was down, falling 43% to $0.23 after the company announced it has received a written notice of delisting from Nasdaq.
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Commodities
In commodity news, oil traded up 1.5% to $104.24, while gold traded up 0.1% to $1,741.90.
Silver traded up 0.4% to $19.255 on Friday while copper fell 1.5% to $3.5195.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.51%, London’s FTSE 100 rose 0.10% while Spain’s IBEX 35 Index fell 0.27%. The German DAX gained 1.34%, French CAC 40 rose 0.44% and Italy’s FTSE MIB Index gained 1%.
Italy’s industrial production fell 1.1% from a month ago in May versus a revised 1.4% growth in the April. France recorded a current account deficit of EUR 3.9 billion in May versus a revised EUR 2.7 billion gap in the prior month, while trade deficit increased to EUR 13 billion in May from a revised EUR 12.7 billion in the previous month.
Economics
The US economy added 372,000 payrolls in June, following a revised 384,000 growth in May. Analysts, however, were expecting for a 268,000 gain in jobs. Average hourly earnings for all employees on private nonfarm payrolls increased 0.3% to $32.08 in June. The US unemployment rate came in unchanged at 3.6% in June.
Wholesale inventories in the US rose by 1.8% from a month ago to $878.6 billion in May.
The total number of active U.S. oil rigs climbed by 2 to 597 rigs this week, Baker Hughes Inc reported.
Data on consumer credit for May will be released at 3:00 p.m. ET.
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 90,065,160 cases with around 1,045,080 deaths. India confirmed a total of at least 43,587,300 cases and 525,340 deaths, while Brazil reported over 32,761,040 COVID-19 cases with 673,120 deaths. In total, there were at least 558,810,440 cases of COVID-19 worldwide with more than 6,369,440 deaths.