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Wall Street indices drifted on Friday, September 2, after the investors assessed the job report, while the European gas crisis had renewed fears among the market participants ahead of the long weekend.
The S&P 500 fell 1.07 per cent to 3,924.26. The Dow Jones was down 1.07 per cent to 31,318.44. The NASDAQ Composite lost 1.31 per cent to 11,630.86, and the small-cap Russell 2000 fell 0.72 per cent to 1,809.75.
The indices rallied in the early trading on September 2, after the job data showed that although the labor market had cooled in the prior month, it has still the potential to support the aggressive monetary plans by the Federal Reserve.
According to the Labor Department's report of September 2, the nonfarm payrolls surged 315,000 in August following a revised increase of 526,000 in the prior month. The unemployment rate jumped to a six-month high of 3.7 per cent in August, marking its first advance since the starting month of the year.
Additionally, Russia had dropped a deadline of September 3, to resume gas flows through Nord Stream 1 pipeline. The Nord Stream 1 pipeline is one of the significant supply routes to Europe.
The energy sector was the only gainer in the S&P 500 index on September 2. Ten of the 11 segments of the S&P 500 index stayed in the negative territory. The information technology and healthcare sectors were the laggards.
Shares of the Canadian retailer firm, lululemon Athletica Inc. (LULU) gained over six per cent in the intraday trading, after the company posted strong quarterly earnings results for the latest quarter..
Broadcom Inc. (AVGO) added nearly two per cent in the intraday session on Friday after the semiconductor manufacturing firm reported its latest quarter earnings results that may have topped the analysts' expectations.
In the energy stocks, Exxon Mobil Corporation (XOM) increased by 1.83 per cent, Chevron Corporation (CVX) added 1.51 per cent, and Shell plc (SHEL) gained 1.62 per cent. ConocoPhillips (COP) and TotalEnergies SE (TTE) advanced 2.55 per cent and 1.96 per cent, respectively.
In technology stocks, Microsoft Corporation (MSFT) decreased by 1.67 per cent, NVIDIA Corporation (NVDA) fell 2.08 per cent, and Cisco Systems, Inc. (CSCO) declined by 1.55 per cent. Accenture plc (ACN) and Qualcomm Incorporated (QCOM) ticked down 1.63 per cent and 1.11 per cent, respectively.
In the healthcare sector, UnitedHealth Group Incorporated (UNH) plunged by 1.46 per cent, Johnson & Johnson (JNJ) slumped by 1.57 per cent, and Eli Lilly and Company (LLY) slipped by 2.56 per cent. Pfizer Inc. (PFE) and AbbVie Inc. (ABBV) retreated 1.97 per cent and 1.55 per cent, respectively.
Futures & Commodities
Gold futures were up 0.74 per cent to US$1,722.00 per ounce. Silver increased by 1.30 per cent to US$17.895 per ounce, while copper fell 0.07 per cent to US$3.4040.
Brent oil futures increased by 1.05 per cent to US$93.33 per barrel and WTI crude was up 0.59 per cent to US$87.12.
Bond Market
The 30-year Treasury bond yields were down by 0.90 per cent to 3.343, while the 10-year bond yields fell 2.20 per cent to 3.193.
US Dollar Futures Index decreased by 0.08 per cent to US$109.590.
