Dow Dips 400 Points; US Adds Fewer Than Expected Jobs – Conduit Pharmaceuticals (NASDAQ:CDT), BILL Holdings (NYSE:BILL)

U.S. stocks traded lower towards completion of trading, with the Dow Jones index falling around 400 points on Friday.

The Dow traded down 0.93% to 44,333.38 while the NASDAQ dipped 1.32% to 19,530.62. The S&P 500 likewise fell, dropping, 0.84% to 6,032.71.

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Leading and Lagging Sectors

Energy shares rose by 0.7% on Friday.

In trading on Friday, customer discretionary shares fell by 2.3%.

Leading Heading

Nonfarm payrolls increased by 143,000 in January 2025, marking a sharp downturn from the upwardly modified 307,000 in December and missing out on financial expert expectations of 170,000, as tracked by TradingEconomics.

The joblessness rate inched below 4.1% to 4% in January, beating expectations of a steady reading.

Equities Trading UP

• Doximity, Inc. DOCS shares soared 36% to $79.24 after the business reported better-than-expected third-quarter monetary outcomes and provided FY25 assistance above price quotes.
• Shares of Avenue Pharmaceuticals Inc. CDT got an increase, rising 92% to $2.97 after the business revealed it finished all turning points in Stage I of its tactical cooperation with Sarborg Limited.
• Farmer Bros. Co. FARM shares were likewise up, getting 32% to $2.3696 after the business reported better-than-expected second-quarter EPS outcomes.

Equities Trading DOWN

• Nikola Corporation NKLA shares dropped 37% to $0.4767 following a report recommending that the business is checking out personal bankruptcy filing.
• Shares of Costs Holdings, Inc. COSTS were down 33% to $64.08. The business provided third-quarter overall earnings assistance listed below price quotes.
• Newell Brands Inc NWL was down, falling 25% to $7.28 after the business provided first-quarter changed EPS assistance listed below price quotes

Products

In product news, oil traded up 0.5% to $70.95 while gold traded up 0.3% at $2,886.00.

Silver traded down 1.1% to $32.285 on Friday, while copper increased 3.2% to $4.6020.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 slipped 0.38%, Germany’s DAX 40 fell 0.53% and France’s CAC 40 fell 0.43%. Spain’s IBEX 35 Index fell 0.33%, while London’s FTSE 100 fell 0.31%.

Asia Pacific Markets

Asian markets closed blended on Friday, with Japan’s Nikkei 225 falling 0.72%, China’s Shanghai Composite Index climbing up 1.01%, Hong Kong’s Hang Seng Index getting 1.16% and India’s BSE Sensex falling 0.25%.

Economics

• Nonfarm payrolls increased by 143,000 in January 2025, marking a sharp downturn from the upwardly modified 307,000 in December and missing out on financial expert expectations of 170,000, as tracked by TradingEconomics.
• The joblessness rate inched below 4.1% to 4% in January, beating expectations of a steady reading.
• Typical per hour profits, a crucial procedure of wage inflation, increased 0.5% month-over-month, topping expectations of 0.3% and marking the greatest boost because January 2024.
• The University of Michigan customer belief decreased to 67.8 in February compared to 71.1 in January and below price quotes of 71.1.
• The overall variety of active U.S. oil well increased by one to 480 rigs today, Baker Hughes Inc reported.

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