HomeMarketsIndicesStock Market Today: Huge Jobs Report Beat, Strength in FCX, JPM, WFC
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Stock Market Today: Huge Jobs Report Beat, Strength in FCX, JPM, WFC

The four indices, SPX, $DJI, NDX, and RUT gapped lower on the opening after a surprisingly high jobs number, two indices finished in the green and two in the red.6 out of 11 sectors in the S&P 500 were down. Crude oil (/CL) closed at about $88. RBOB Gas (/RB) is up while Natural Gas (/NG) is down, and Gold (/GC) also closed lower. The TNX rallied higher after the jobs report and bitcoin (/BTC) also increased slightly. The VIX closed below 21 for the first time since April. There was strength in energy, financials, and materials specifically in stocks FCX, JPM, and WFC. There was weakness in consumer discretionary, communication services, and utilities in stocks such as SO, META, and GOOG. Expedia (EXPE) beat earnings noting that travel looks strong going forward. Block (SQ) also beat earnings but had some loss in bitcoin revenue. As for the jobs report, 250K new jobs were expected but the number actually came in at 528K, the unemployment rate dropped to 3.5%, and wages were up 0.5%. Fi

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05 Aug 2022

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