Skip to main content

US stocks opened on a pessimistic note this morning after the release of weekly unemployment insurance claims data.

After Friday’s market open, the Dow Jones traded down 1.29% to 33,360.18 while the NASDAQ fell 1.35% to 13,354.95. The S&P also fell, falling 1.30% to 4,306.68.

Watch this: Insiders buy about $98 million on 3 stocks

Leading and Lagging Sectors

Energy stocks climbed 1.2% on Friday. Meanwhile, top earners in the industry included Indonesia Energy Corporation Limited (NYSE: INDO), up 32% and (NYSE: OXY) up 7%.

In Friday trading, financial stocks fell 2.4%.

main title

The US economy added 678,000 jobs in February, the largest in seven months. However, analysts had expected a reading of 400,000. The unemployment rate slipped to 3.8% in February from 4% the previous month.

Stock exchange rising

Indonesia Energy Corporation Limited (NASDAQ: INDO) shares jumped 47% to $29.75 after jumping 39% on Thursday.

Shares of Sweetgreen, Inc. (NYSE:SG) received a boost, rising 19% to $25.35 after the company reported better-than-expected fourth-quarter sales results and released FY22 sales guidance above estimates. analysts.

Sidus Space, Inc. (NASDAQ: SIDU) shares also rose, gaining 14% to $5.12. Sidus Space announced a strategic partnership with Aitech Systems to support LizzeSat Constellation.

Also Check This: Cisco Systems and 3 Other Stocks Sold by Insiders

Stock trading down

Cerberus Cyber ​​Sentinel Corporation (NASDAQ: CISO) shares fell 21% to $4.8050 after gaining 24% on Thursday.

Shares of Ocugen, Inc. (NASDAQ: OCGN) fell 21% to $2.5950 after the company announced that the FDA had refused to issue an EUA for COVAXIN for active immunization to prevent COVID-19 caused by SARS-CoV- 2 in people aged 2 to 18.

Smith & Wesson Brands, Inc. (NASDAQ: SWBI) was lower, falling 18% to $14.61 after the company reported worse-than-expected third-quarter EPS and adjusted sales results.

Also Check: Executives Buy About $1 Million From 5 Penny Stocks

Merchandise

In commodities news, oil was trading up 5.2% at $113.36, while gold was trading up 0.9% at $1,953.60.

Silver traded up 1.3% on Friday at $25.55 while copper rose 2.1% to $4.8835.

Eurozone

European stocks were down today. The Eurozone STOXX 600 fell 2.9%, London’s FTSE 100 fell 3.4%, while Spain’s IBEX 35 index fell 3%. The German DAX fell by 3.6%, the French CAC 40 by 3.5% and the Italian FTSE MIB index by 4.8%.

The IHS Markit Italy construction PMI hit a new serial high of 68.5 in February, while the German construction PMI reached 54.9 in February. The IHS Markit PMI for French construction slipped to 50 in February from 52 the previous month, while industrial production rose 1.6% from a month ago in January.

Economy

The US economy added 678,000 jobs in February, the largest in seven months. However, analysts had expected a reading of 400,000. The unemployment rate slipped to 3.8% in February from 4% the previous month.

Baker Hughes’ North American Platform Count report for the past week will be released at 8:30 a.m. ET.

Watch this: Executives sell over $47 million on 5 stocks

View the full economic calendar here

COVID-19 Update

The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 80,843,570 cases with around 981,720 deaths. India has confirmed a total of at least 42,951,550 cases and 514,620 deaths, while Brazil has reported over 28,906,210 cases of COVID-19 with 650,640 deaths. In total, there have been at least 442,827,790 cases of COVID-19 worldwide with more than 6,004,220 deaths.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.