NASDAQ Falls After June Hiring Misses Expectations

Dow Jones02:05
 
 

Stocks were mixed Friday after June jobs data pointed to slower-than-expected growth in the labor market.

The U.S. added 57,000 jobs in June, down from May and roughly half the 115,000 jobs that economists expected to see added. Treasury yields slipped as investors took it as a sign the Fed could be more reluctant to raise interest rates; the dollar also weakened.

The Dow pared gains in afternoon trading, and technology stocks were weaker as the Nasdaq composite fell more than 1%. Oil prices edged lower, with Brent crude futures trading near $71.50 a barrel.

Earlier today, stock markets in Seoul and Tokyo took a beating. Kioxia, which has gone from little-known memory-chip maker to Japan's highest-valued company, tumbled 13%.

In recent trading:

The yen strengthened against the dollar. Traders are on alert for possible intervention by Japanese authorities to support the currency, which fell to 40-year lows this week.

 
 

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