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Dow Jumps 150 Points; US Adds 142,000 Jobs In August - Genesco (NYSE:GCO)

U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 150 points on Friday.

The Dow traded up 0.38% to 40,912.04 while the NASDAQ fell 0.37% to 17,064.86. The S&P 500 also rose, gaining, 0.04% to 5,505.55.

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Leading and Lagging Sectors

Top Headline

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.

Equities Trading UP

Equities Trading DOWN

were down 21% to $1.9593 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 17% to $24.31 following second-quarter results.

Commodities

In commodity news, oil traded up 1% to $69.82 while gold traded down 0.4% at $2,533.40.

Silver traded down 0.5% to $28.960 on Friday, while copper fell 0.6% to $4.1140.

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.

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