4:05 p.m .: US tech stocks end up in the red

US stocks ended mixed despite a stronger than expected employment report.

However, the Dow Jones Industrial Average and S&P 500 hit closing records by ending the day in the green.

The Labor Department said the US economy created 943,000 jobs in July, while economists expected 845,000.

On the day, the Dow Jones rose 144 points, or 0.41%, to 35,209 and the S&P 500 rose 0.17% to 4,436.

But the tech-rich Nasdaq fell 0.48% to 14,823.

12:10 p.m.: Positive jobs data in July pushes US stocks higher

As of noon, the Dow Jones Industrial Average continued to advance, adding 126 points to sit at 35,190. Bullish employment figures in July helped the index hold on to its gains despite fears that rising prices would increase. US variant delta case does weigh on the economic recovery this month.

The S&P 500 also rose 3.47 points, remaining in the 4,432 range. But the technology-laden Nasdaq Composite remained lackluster, down 0.4%.

With the U.S. unemployment rate falling to 5.4%, beating the expected 5.7%, market watchers are speculating that the Federal Reserve will begin to end its $ 120 billion monthly bond buying program.

Ending the initiative to support the economy during the pandemic could signal a substantial long-term recovery. However, after dropping below 100,000 new daily infections in mid-February, COVID-19 cases in the country are steadily increasing with 127,108 new cases reported yesterday (August 5).

9:55 a.m .: Dow in demand

U.S. blue chips rose in early trading on Friday after the latest U.S. employment data turned out to be stronger than expected, easing fears about the pace of economic recovery after the coronavirus pandemic (COVID -19).

After 15 minutes of trading, the Dow Jones Industrial Average rose 122 points, or 0.4% to 35,187, while the larger S&P 500 index rose 0.1%, but the Nasdaq Composite, charged with technology, lost 0.3%.

U.S. non-farm wages rose 943,000 in July, above the expected 870,000, with the unemployment rate falling to 5.4% last month, from 5.9% in June and more than the expected drop to 5 , 7%, the Labor Department said on Friday.

Caleb Thibodeau, Partner at Validus Risk Management, said: “At the last Fed meeting, we heard Powell lift the sluggishness in the job market, indicating that the job recovery was on a solid and very robust trajectory. which will catch up with inflation – that was certainly the feeling of the current development of the non-farm wage bill and the decline in the unemployment rate.

“In the future, the market may struggle to balance competing forces. On the one hand, this release is certainly a sign of good and continued economic growth, although it also significantly increases the likelihood that the Fed will cut its monthly asset purchases by $ 120 billion.

“With the inflation box considered to be checked, robust publications of labor market data like this help tick the second box of maximum labor market participation. Once progress is identified towards this second target in the Fed’s eyes, it will most likely prepare for tapering and has already prepared the market for it – possibly by the end of the year. “

Thibodeau added, “This change in payroll is part of a story of a broader recovery in the labor market, given the increase in the services PMI earlier this week and a large number of job postings. While it is unusual to have unemployment figures at their current levels alongside high vacancies, transient frictions in the labor market appear to be easing along with COVID restrictions.

“Importantly, Powell has been very deliberate in specifying that there is no quantitative threshold that the Fed is looking for in jobs reports, leaving the door open to what defines ‘substantial progress’ . The market seems to agree today that this release will almost certainly fit the definition of new advancements. “

8:40 am: Boost to employment

U.S. equity futures rose after non-farm wages rose 943,000 in July, more than the 870,000 expected, with the unemployment rate falling to 5.4% last month, from 5.9% in July. June and more than the expected decline to 5.7%, the Labor Department said on Friday.

Responding to the data, Robert Alster, CIO of investment management firm Close Brothers Asset Management, said: “Payrolls continue to paint a positive picture of the US labor market, but the Fed will be watching the details closely ahead. to make any decision. . Companies still struggle to hire, with job gains being limited by either insufficient numbers of workers, bad workers in the wrong place, or bad jobs at bad wages. Teen workers currently represent a higher proportion of the workforce than usual, and Powell’s scorecard shows an uneven recovery in terms of diversity and inclusion.

“Additionally, much of the unemployment data from the United States, especially initial unemployment claims, has been skewed by systemic changes in collection and reporting in different states throughout the pandemic. This has led to incomplete or inaccurate readings, and it will take some time to rectify. Until we get a clearer picture of the landscape, both in terms of data quality and post-Covid clarity, the Fed is unlikely to be in a rush to signal a policy change. “

7:40 am: rules of caution before data

U.S. stocks are expected to see a fairly stable open on Friday, reflecting the caution ahead of a July jobs report that will provide insight into the pace of the economic rebound from the coronavirus pandemic (COVID-19).

Futures for the Dow Jones Industrial Average rose less than 0.1%, albeit after jumping 0.8% on Thursday. Wider S&P 500 futures were roughly flat, while tech-focused Nasdaq-100 futures fell 0.1%.

Job growth in the United States is expected to have remained robust in July amid changes in seasonal school employment caused by the pandemic, which may mask some easing of underlying labor market conditions in the near future. as the impetus for fiscal stimulus fades.

The non-farm payroll is expected to increase by 870,000 in July, with the unemployment rate rising from 5.9% to 5.7%, and the average hourly wage is expected to rise 0.3%.

Investors were also weighing on the latest mixed run of quarterly earnings.

Ahead of the opening bell in New York, shares of American International Group rose after reaching second-quarter profit, helped by gains from its private equity investments.

But shares of Beyond Meat fell after the non-meat maker reported a larger quarterly loss, and () Group fell after the travel company posted a second quarter loss.

Four other things to watch out for on Friday:

India’s highest court on Friday awarded Amazon.com Inc a major victory in a dispute in which it sought to prevent partner Future Group from selling $ 3.4 billion in assets to rival Reliance Industries.

Rupert Murdoch’s media group () returned to profit for the year at the end of June, with the owner of The Wall Street Journal and The Sun seeing revenues rise 4% to $ 9.4 billion from US $ 9, $ 0 billion the previous year, while net profit (profit after tax) was positive at $ 389 million from a loss the previous year of $ 1.6 billion when the company took write-downs of US $ 1.7 billion.

Spaceship company Virgin Galactic has announced that it will open up selling spaceflight tickets starting at $ 450,000 a seat, weeks after billionaire founder Richard Branson’s much-publicized trip to the edge of space.

() Co said activist investor Nelson Peltz will step down from the company’s board at the end of his tenure later this year.