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US open: Stocks mixed as nonfarm payrolls beat consensus

(Sharecast News) - Wall Street stocks were little changed early on Friday as traders returned from the Independence Day break to some hotly anticipated labour market data.

As of 1515 BST, the Dow Jones Industrial Average was down 0.07% at 39,279.16, while the S&P 500 advanced 0.12% to 5,543.91 and the Nasdaq Composite came out the gate 0.43% firmer at 18,266.87.

The Dow opened 28.84 points lower on Friday, extending losses recorded in its truncated Wednesday session.

Investors were primarily focused on last month's nonfarm payrolls report on Friday, with the Labor Department revealing nonfarm payrolls had risen by 206,000 in June, ahead of estimates for a reading of 190,000.

Significantly, readings on non-farm payrolls for the prior two months were revised down by a combined 111,000. The three-month moving average for total payrolls growth declined from 212,000 to 177,000 and from 178,000 to 146,000 within the private sector. In parallel, the unemployment rate ticked higher by a tenth of a percentage point to 4.1%.

Immediately following the release of the latest numbers the yield on the benchmark 10-year US Treasury note fell to 4.284%, but went on to reclaim some of its earlier losses and was later sitting roughly five basis points lower at 4.319%.

Still to come, the Federal Reserve's latest monetary policy report will be published at 1600 BST.

Corporate earnings season will kick off next week, with the likes of Delta Air Lines and PepsiCo, as well as banking giants Citigroup, JP Morgan Chase and Wells Fargo, all set to report before the end of the week.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $263.77 1.08% Intel Corp. (INTC) $31.44 0.67% Caterpillar Inc. (CAT) $332.37 0.53% Walmart Inc. (WMT) $68.42 0.51% Microsoft Corp. (MSFT) $462.92 0.47% Apple Inc. (AAPL) $222.53 0.44% Visa Inc. (V) $268.97 0.28% McDonald's Corp. (MCD) $250.19 0.08% Walgreens Boots Alliance, Inc. (WBA) $11.10 0.05% Procter & Gamble Co. (PG) $163.88 0.03%

Dow Jones - Fallers

Unitedhealth Group Inc. (UNH) $486.84 -2.29% Merck & Co. Inc. (MRK) $125.98 -1.36% JP Morgan Chase & Co. (JPM) $206.71 -0.95% Walt Disney Co. (DIS) $97.72 -0.90% Dow Chemical Co. (DOW) $52.47 -0.78% Cisco Systems Inc. (CSCO) $46.74 -0.75% Goldman Sachs Group Inc. (GS) $464.99 -0.63% Chevron Corp. (CVX) $155.79 -0.59% Travelers Company Inc. (TRV) $202.49 -0.59% Nike Inc. (NKE) $75.65 -0.51%

S&P 500 - Risers

Macy's Inc. (M) $19.64 9.54% Newmont Corporation (NEM) $44.25 6.09% Westrock Company (WRK) $50.77 4.06% Advanced Micro Devices Inc. (AMD) $167.97 2.48% VF Corp. (VFC) $13.15 2.46% NextEra Energy Inc. (NEE) $71.96 2.11% Rollins Inc. (ROL) $50.18 2.10% Freeport-McMoRan Inc (FCX) $51.53 1.74% Meta Platforms Inc. (META) $518.07 1.59% Nordstrom Inc. (JWN) $21.92 1.48%

S&P 500 - Fallers

Constellation Brands Inc. Class A (STZ) $251.00 -3.07% Unitedhealth Group Inc. (UNH) $486.84 -2.29% Micron Technology Inc. (MU) $133.80 -2.20% M&T Bank Corp. (MTB) $148.43 -2.17% Whirlpool Corp. (WHR) $100.08 -2.10% Weyerhaeuser Co. (WY) $26.93 -2.00% Unum Group (UNM) $50.49 -1.94% Jacobs Solutions Inc. (J) $135.91 -1.86% Alaska Air Group Inc. (ALK) $39.55 -1.84% CIGNA Corp. (CI) $319.51 -1.82%

Nasdaq 100 - Risers

Sirius XM Holdings Inc (SIRI) $3.94 11.76% Meta Platforms Inc. (META) $518.07 1.59% Vodafone Group Plc ADS (VOD) $8.98 1.58% Synopsys Inc. (SNPS) $614.74 1.28% Alphabet Inc. Class A (GOOGL) $188.15 1.25% Alphabet Inc. Class C (GOOG) $189.69 1.23% QUALCOMM Inc. (QCOM) $206.07 1.11% Amazon.Com Inc. (AMZN) $199.71 1.08% Illumina Inc. (ILMN) $106.29 0.96% Broadcom Inc. (AVGO) $1,744.00 0.85%

Nasdaq 100 - Fallers

NetEase Inc. Ads (NTES) $92.91 -3.14% JD.com, Inc. (JD) $26.25 -2.31% Micron Technology Inc. (MU) $133.80 -2.20% Baidu Inc. (BIDU) $88.28 -1.98% DENTSPLY Sirona Inc. (XRAY) $24.41 -1.41% Take-Two Interactive Software Inc. (TTWO) $151.92 -1.03% Paypal Holdings Inc (PYPL) $59.09 -0.93% Automatic Data Processing Inc. (ADP) $234.75 -0.91% Cisco Systems Inc. (CSCO) $46.74 -0.75% PACCAR Inc. (PCAR) $101.24 -0.75%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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