US stocks ended the week mixed on Friday, July 8, after Dow Jones and S&P 500 edged lower in the closing hour as investors assessed the latest jobs report, which indicated the economy could be still better and insulated from the global market turbulence.
The S&P 500 fell 0.08% to 3,899.38. The Dow Jones was down 0.15% to 31,338.15. The NASDAQ Composite gained 0.12% to 11,635.31, and the small-cap Russell 2000 ticked down 0.01% to 1,769.36.
The Labor Department on Friday said that the US economy added 372,000 jobs in June, far exceeding analysts’ estimates. The data also showed the jobless rate stayed around the pre-pandemic low of 3.6%.
Healthcare, technology, and consumer discretionary sectors were the top movers of the S&P 500 on Friday. Six of the 11 segments stayed in the red. The materials and industrial sectors were bottom movers.
Shares of GameStop Corp. (GME) fell 4.38% in intraday trading after the videogame retailer said it is trimming staff. The company also terminated its Chief Financial Officer, Michael Recupero.
Social media company Twitter, Inc. (TWTR) stock dropped 4.47% after it said it would lay off 30% of its talent-acquisition team. Tesla chief Elon Musk has reportedly said that his Twitter deal is in "serious jeopardy".
Levi Strauss & Co. (LEVI) stock gained 2.68% after the apparel brand reported strong second-quarter earnings, topping Wall Street estimates on robust demand for denim jeans and jackets.
In the healthcare sector, UnitedHealth Group Incorporated (UNH) increased by 0.85%, Eli Lilly and Company (LLY) soared 0.74%, and Elevance Health Inc. (ELV) added 1.06%. Cigna Corporation (CI) and Moderna, Inc. (MRNA) advanced 1.24% and 2.22%, respectively.
In technology stocks, Taiwan Semiconductor Manufacturing Company Limited (TSM) rose 1.08%, QUALCOMM Incorporated (QCOM) surged 1.20%, and Analog Devices, Inc. (ADI) 0.92%. Fortinet, Inc. (FTNT) and NXP Semiconductors N.V. (NXPI) ticked up 1.75% and 1.49%, respectively.
In the basic material sector, BHP Group Limited (BHP) decreased by 2.12%, Vale S.A. (VALE) lost 1.66%, and Air Products and Chemicals, Inc. (APD) declined 1.53%. Ecolab Inc. (ECL) and Freeport-McMoRan Inc. (FCX) tumbled 2.06% and 4.18%, respectively.
In the crypto space, Bitcoin (BTC) and Ethereum (ETH) increased by 0.19% and 0.71%, respectively. The global crypto market cap rose 0.26% to US$960.77 billion at 4:19 pm ET on July 8.
Futures & Commodities
Gold futures were up 0.02% to US$1,740.10 per ounce. Silver increased by 0.18% to US$19.223 per ounce, while copper fell 1.63% to US$3.5137.
Brent oil futures increased by 2.37% to US$107.13 per barrel and WTI crude was up 2.07% to US$104.86.
The 30-year Treasury bond yields were up 1.84% to 3.255, while the 10-year bond yields rose 2.53% to 3.084.
US Dollar Futures Index decreased by 0.20% to US$106.750.