Last updated: 4:07PM EST
Stock indices finished today’s trading session in the green, as the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) gained 1.2%, 0.94%, and 0.65%, respectively.
The Energy sector (XLE) was the session’s laggard, as it lost 0.97%. Conversely, the Real Estate sector (XLRE) was the session’s leader, with a gain of 2.39%.
Furthermore, the U.S. 10-Year Treasury yield saw a slight decrease to 4.574%. Similarly, the Two-Year Treasury yield was also little changed, as it hovers around 4.841%.
Last updated: 2:34PM EST
Stocks are in the green so far in today’s trading session. In addition, WTI crude oil is up, as it hovers above $80.14 per barrel. The commodity’s recent downtrend has led to prices at the pump gaining downward momentum across the country.
Indeed, the national average for regular gas was last $3.438 per gallon, down from last week’s reading of $3.518. The highest prices can be found in California, where prices are substantially higher than the national average, at $5.183 per gallon. On the other hand, Texas is the state with the lowest gas prices, at $2.917 per gallon.
Last updated:9:30AM EST
Stocks opened in the green on Friday morning with the Nasdaq 100 (NDX) and the S&P 500 (SPX) are down by 0.55% and 0.65%, respectively, while the Dow Jones Industrial Average (DJIA) was higher by 0.56%, at 9:30 a.m. EST, November 3.
Meanwhile, the jobs report on Friday indicated that growth in the jobs market has slowed down as U.S. non-farm payrolls increased by 150,000 in October, lesser than economists’ forecasts of 179,000 and significantly lower than the 297,000 jobs (revised figure) added in September.
The rate of unemployment ticked higher to 3.9% versus economists’ estimates of 3.8%. The labor force participation rate was at 62.7%, lower than 62.8% in September and fell short of consensus estimates of 62.8%.
First published:4:13AM EST
U.S. Futures are jittery in the wee hours of Friday morning, as iPhone maker Apple’s (AAPL) weak Q4 outlook disappointed investors. AAPL stock fell 3.4% in extended trade yesterday despite posting a Q3 beat. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) are down by 0.35% and 0.16%, respectively, while those on the Dow Jones Industrial Average (DJIA) are marginally higher by 0.01%, at 4:13 a.m. EST, November 3.
Even so, the three major averages are on track for a solid positive finish to the trading week. Thanks in part to the Federal Reserve’s decision to hold interest rates steady and the retreating treasury yields. Further, the stronger-than-expected Jobless Claims figure of 217,000 for the week ending October 28, showed signs of a cooling labor market and boosted investor sentiment.
Importantly, traders await the Non-Farm Payrolls data this morning. The U.S. is expected to have added 180,000 jobs in October, compared to the sky-high figure of 336,000 job additions in September. Any deviation from the expectation could rattle the markets today. Plus, the jobs report could influence the Fed’s monetary policy decision come December.
Notably, the U.S. 10-year treasury yield receded yesterday and is floating near 4.66% at the time of writing. And the WTI crude oil futures are hovering near $82.76 per barrel as of the last check.
Remarkably, Block (SQ) shares also jumped over 18% in after-hours trading after the company reported impressive Q3 results. Also, DraftKings stock (DKNG) gained about 8% in after-hours trading attributed to the company’s stronger-than-expected Q3 results and increased full-year outlook. Interestingly, FTX founder Sam Bankman-Fried was found guilty of seven charges in a Manhattan court yesterday. The crypto king is still pleading his innocence and will file an appeal with a higher court.
Elsewhere, European indices are trading higher on Friday after the Bank of England (BOE) kept interest rates unchanged for the second time in a row, yesterday. Markets are also moving as better-than-expected earnings from several European companies kept investors’ enthusiasm intact.
Asia-Pacific Markets End Higher on Friday
Asia-Pacific indices ended higher today following positive economic data from the region. Chinese stocks buoyed as the mainland’s service sector expanded in October with the Caixin services purchasing managers index (PMI) standing at 50.4. Meanwhile, Japanese markets remained closed for trading today.
Hong Kong’s Hang Seng index and China’s Shanghai Composite and Shenzhen Component indexes finished higher by 2.69%, 0.71%, and 1.22%, respectively.
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