The US stocks got off to a strong start this morning, with investors buoyed by the release of robust job data on Friday.
As the market opened on Friday, the Dow edged up by 0.08% to 37,470.26, while the NASDAQ climbed 0.20% to 14,539.40. The S&P 500 also saw gains, rising by 0.21% to 4,698.40.
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Leading and Lagging Sectors
Communication services shares experienced a 0.5% increase on Friday.
In contrast, real estate shares saw a 0.4% dip in trading on Friday.
Top Headline
The U.S. economy added 216,000 jobs in December, a significant jump from the adjusted 173,000 in November, and surpassing market estimates of 170,000. The unemployment rate in the U.S. remained unchanged at a low 3.7% in December, in line with market estimates of 3.8%.
Equities Trading UP
Ainos, Inc. AIMD shares surged by an impressive 112% to $3.6706 after enduring a more than 12% decline on Thursday.
Shares of Banzai International, Inc. BNZI spiked 86% to $3.09. Banzai International signed a non-binding letter of intent to acquire IGLeads, a cutting-edge automated lead generation platform.
Revelstone Capital Acquisition Corp. RCAC also exhibited a strong performance, with shares surging 88% to $10.65. Revelstone Capital Acquisition cancelled a special meeting to approve a business combination with Set Jet, Inc.
Equities Trading DOWN
Applied Therapeutics, Inc. APLT shares plummeted by 33% to $2.5250 following the release of topline results from the ARISE-HF Phase 3 study of AT-001 in diabetic cardiomyopathy.
Shares of agilon health, inc. AGL dropped 33% to $8.11 after the company lowered its 2023 financial outlook.
Medical Properties Trust, Inc. MPW fell by 31% to $3.4750 after disclosing plans to reduce its exposure to tenant Steward Health Care System. Keybanc analyst Austin Wurschmidt downgraded Medical Properties Trust from Overweight to Sector Weight.
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Commodities
In commodity news, oil traded up 2.2% to $73.78, while gold traded up 0.2% at $2,053.70.
Silver traded up 0.4% to $23.285 on Friday, while copper fell 0.1% to $3.8435.
Euro Zone
European shares were lower today. The Eurozone’s STOXX 600 fell 0.7%, London’s FTSE 100 fell 0.6%, Spain’s IBEX 35 Index fell 0.6%, the German DAX fell 0.5%, the French CAC 40 fell 0.8%, and Italy’s FTSE MIB Index fell 0.3%.
Industrial producer prices in the Eurozone declined 8.8% year-over-year in November, compared to a 9.4% decline a month ago. The inflation rate in the Eurozone increased to 2.9% year-over-year in December, compared to an over two-year low level of 2.4% in November. The HCOB Eurozone Construction PMI rose to 43.6 in December, compared to 43.4 a month ago.
The S&P Global UK construction PMI rose to 46.8 in December from 45.5 in November, while the Halifax House Price Index increased by 1.7% year-over-year in December. The French construction PMI declined to 42.6 in December from 44.6 in November, while the HCOB Germany construction PMI rose to 37 in December from 36.2 in the prior month.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.27%, Hong Kong’s Hang Seng Index falling 0.66%, and China’s Shanghai Composite Index falling 0.85%. India’s S&P BSE Sensex, meanwhile, rose 0.25%.
Foreign exchange reserves in Hong Kong rose to $425.5 billion in December, compared to a seven-month high level of $424.6 billion a month ago. The S&P Global Indian services PMI climbed to 59.0 in December, compared to 56.9 a month ago. The consumer confidence index in Japan climbed to 37.2 in December from 36.1 in the previous month, while Japanese services PMI was revised lower to 51.5 in December, compared to the preliminary reading of 52.0.
Economics
The US economy added 216,000 jobs in December, compared to the revised 173,000 in November, and surpassing market estimates of 170,000.
The unemployment rate in the US remained at 3.7% in December, matching market estimates of 3.8%.
Average hourly earnings for all employees on US private nonfarm payrolls increased by 0.4% over a month to $34.27 for December.
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