U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 400 points on Friday.

The Dow traded down 1.07% to 40,320.42 while the NASDAQ fell 2.61% to 16,680.93. The S&P 500 also fell, dropping, 1.80% to 5,404.31.

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The total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc reported.

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were down 27% to $1.8050 after the company reported worse-than-expected second-quarter sales results. Also, Needham maintained a Buy rating on the stock but lowered its price target from $7 to $5. Genesco Inc. GCO was down, falling 12% to $26.01 following second-quarter results.

Commodities

In commodity news, oil traded down 2% to $67.74 while gold traded down 0.8% at $2,523.00.

Silver traded down 3% to $28.22 on Friday, while copper fell 1.7% to $4.0665.

Euro zone

The GDP in the Eurozone grew by 0.2% on quarter during the second quarter. The number of employed persons in the Eurozone increased by 0.2% from the prior quarter during the three months to June.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei 225 falling 0.72%, China's Shanghai Composite Index falling 0.81% and India's BSE Sensex falling 1.24%.

Foreign exchange reserves held by the Reserve Bank of India jumped to $684 billion as of Aug. 30, 2024.

Economics

The U.S. economy added 142,000 jobs in August versus a revised 89,000 gain in July, but down from market estimates of 160,000.

The unemployment rate fell to 4.2% in August from 4.3% in the previous month.

Average hourly earnings for all employees rose by 0.4% to $35.21 in August compared to a 0.2% gain in July.

The total number of active U.S. oil rigs came in unchanged at 483 rigs this week, Baker Hughes Inc reported.

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