U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite dipping around 0.5% on Friday.
The Dow traded up 0.27% to 38,894.21 while the NASDAQ fell 0.51% to 16,190.52. The S&P 500 also fell, dropping, 0.20% to 5,146.8.
Check This Out: Wall Street’s Most Accurate Analysts’ Views On 3 Risk Off Stocks With Over 5% Dividend Yields
Market Movement Overview
Real estate shares jumped by 0.9% on Friday.
In trading on Friday, information technology shares fell by 1.8%.
Key Highlights
Nonfarm payrolls beat economist estimates, coming at 275,000 in February compared to the expected 200,000. The unemployment rate rose from 3.7% to 3.9%, surprising estimates of 3.7%.
Average hourly wages grew at a 0.1% monthly pace in February, easing from the downwardly revised 0.5% growth in January, and below the expected 0.3%.
Stocks on the Rise
Willdan Group, Inc. WLDN shares shot up 25% to $24.85 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance above estimates. Additionally, the company secured a contract worth approximately $30 million to $50 million over three years.
Shares of The Joint Corp. JYNT got a boost, surging 31% to $11.94 following fourth-quarter results.
Safe and Green Development Corporation SGD shares were also up, gaining 134% to $1.54 after the company announced financing for the Norman Berry Expansion in Atlanta, Georgia.
Stocks on the Decline
Amylyx Pharmaceuticals, Inc. AMLX shares dropped 82% to $3.3650 after the company announced its PHOENIX phase 3 trial of AMX0035 for amyotrophic lateral sclerosis did not meet its primary endpoint and there was no statistical significance seen in secondary endpoints.
Shares of AerSale Corporation ASLE were down 27% to $6.82 after the company reported worse-than-expected fourth-quarter financial results.
BigBear.ai Holdings, Inc. BBAI was down, falling 32% to $2.5750 after the company reported worse-than-expected fourth-quarter financial results.
Also Check This Out: Cisco, Robinhood And 2 Other Stocks Insiders Are Selling
Commodities Corner
In commodity news, oil traded down 1.5% to $77.73 while gold traded up 1% at $2,186.90.
Silver traded down 0.2% to $24.54 on Friday while copper fell 1.1% to $3.8840.
Euro Zone Update
European shares were mixed today. The eurozone’s STOXX 600 gained 0.02%, London’s FTSE 100 fell 0.43% while Spain’s IBEX 35 Index rose 0.13%. The German DAX fell 0.16%, French CAC 40 rose 0.15%, and Italy’s FTSE MIB Index fell 0.04%.
The eurozone economy stagnated during the fourth quarter compared to a 0.1% decline in the prior three-month period. French trade deficit increased to €7.4 billion in January from €6.4 billion in the prior month. Spanish industrial output declined by 0.6% year-over-year in January. Producer prices in Germany declined by 4.4% year-over-year in January, while industrial output increased by 1.0% month-over-month for January.
Asia Pacific Markets Wrap-Up
Asian markets closed higher on Friday, with Japan’s Nikkei 225 gaining 0.23%, Hong Kong’s Hang Seng Index gaining 0.76%, and China’s Shanghai Composite Index gaining 0.61%.
The gauge for Japan’s service sector climbed to 51.3 in February versus the prior month’s reading of 50.2. The index of leading economic indicators in Japan fell to 109.9 in January versus a revised reading of 110.5 in December, while the index of coincident economic indicators fell to 110.2 in January versus a revised 116.0 in the previous month. Household spending in Japan dipped by 6.3% year-over-year in January.
Economic Indicators Update
Nonfarm payrolls beat economist estimates, coming at 275,000 in February compared to the expected 200,000.
The unemployment rate rose from 3.7% to 3.9%, surprising estimates of 3.7%.
Average hourly wages grew at a 0.1% monthly pace in February, easing from the downwardly revised 0.5% growth in January, and below the expected 0.3%.
The total number of active U.S. oil rigs fell by 1 rig this week, Baker Hughes Inc reported.
Now Read This: Top 3 Industrials That Are Preparing To Pump In Q1
