U.S. stocks traded mixed this morning, with the Dow Jones index falling around 150 points on Friday.
Following the market opening Friday, the Dow traded down 0.39% to 38,370.46 while the NASDAQ rose 0.56% to 15,447.53. The S&P 500 also rose, gaining, 0.18% to 4,914.99.
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Changes in the Market
Communication services shares rose by 2.9% on Friday.
In trading on Friday, real estate shares fell by 2%.
Employment Statistics
U.S. non-farm payrolls increased by 353,000 in January, a jump from the upwardly revised figure of 333,000 for December and well above the expected 180,000.
The unemployment rate remained steady at 3.7%, below the expected 3.8%.
Market Movement
Intelligent Bio Solutions Inc. INBS shares shot up 90% to $4.57.
Shares of Minim, Inc. MINM got a boost, surging 45% to $7.30 after gaining more than 22% on Thursday.
Remark Holdings, Inc. MARK shares were also up, gaining 27% to $0.6499.
Market Decline
Cingulate Inc. CING shares dropped 44% to $1.87. Cingulate announced pricing of $7.5 million public offering of 3.750 million shares at $2.00 per share.
Shares of MedAvail Holdings, Inc. MDVL were down 44% to $1.75.
GRI Bio, Inc. GRI was down, falling 25% to $1.46 after the company announced pricing of $5.5 million public offering.
Commodity Market
In commodity news, oil traded down 0.5% to $73.45 while gold traded down 1% at $2,051.00.
Silver traded down 2.2% to $22.725 on Friday while copper fell 0.7% to $3.8275.
Global Market Outlook
European shares were higher today. The eurozone’s STOXX 600 gained 0.5%, London’s FTSE 100 rose 0.4% while Spain’s IBEX 35 Index rose 0.7% The German DAX rose 0.7% French CAC 40 rose 0.4% while Italy’s FTSE MIB Index rose 0.5%.
Industrial production in France rose 1.1% month-over-month in December following a 0.5% increase in the prior period. The number of foreign tourist arrivals in Spain surged by 26.2% year-over-year to 5.2 million in December.
Asian Market Movement
Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.41%, Hong Kong’s Hang Seng Index falling 0.21% and China’s Shanghai Composite Index falling 1.46%. India’s S&P BSE Sensex, meanwhile, rose 0.61%.
Australian final demand producer price index rose by 0.9% quarter-over-quarter in the fourth quarter, versus a 1.8% rise in the third quarter.
Economic Analysis
Non-farm payrolls increased by 353,000 in January, a jump from the upwardly revised figure of 333,000 for December and well above the expected 180,000.
The unemployment rate remained steady at 3.7%, below the expected 3.8%.
Average hourly earnings showed 0.6% growth for the month, a sharp increase from the previous 0.4% and below the predicted 0.3%.
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