U.S. stocks traded lower on Friday after the better than expected monthly nonfarm jobs report.
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Wall Street reopens following Wednesday's record setting session and the July 4th holiday.
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The June employment report showed 224,000 new nonfarm jobs were created, topping the estimate for 160,000.
The May numbers were revised lower by 3,000 to 72,000.
Stocks traded lower as the jobs report dashed hopes of an aggressive interest rate cut by the Federal Reserve this month.
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Chipmakers fell after Samsung Electronics forecast a steep plunge in its second-quarter operating profit. That send shares of Qualcomm, Intel and Advanced Micro Devices lower.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| QCOM | QUALCOMM INC. | 76.25 | -0.38 | -0.50% |
| INTC | INTEL CORPORATION | 47.85 | -0.67 | -1.38% |
| AMD | ADVANCED MICRO DEVICES INC. | 31.19 | -0.00 | -0.00% |
In Asian markets on Friday, China's Shanghai Composite added 0.2 percent on the day and 1.1 percent for the week. Hong Kong's Hang Seng traded lower by 0.1 percent, but up 0.8 percent for the week. Japan's Nikkei rose by 0.2 percent and added 2.2 percent for a fifth straight week of gains.
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In Europe, London's FTSE slipped 0.7 percent, Germany's DAX is down 0.5 percent and France's CAC was down 0.5 percent.
https://www.foxbusiness.com/markets/us-stocks-wall-street-july-5-2019
2019-07-05 14:14:44Z
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