On Friday, US stocks finished lower after giving up earlier gains, capping a week of losses.Stocks of Apple and Amazon tumbled after Apple reported quarterly revenue declines.
The Labor Department’s July jobs report showed payrolls rose by 187,000, below expectations, but wages increased faster than expected, adding pressure on the Federal Reserve.
In the past week, the Dow fell 1%, the S&P 500 fell 2.3%, and the Nasdaq fell 2.8%.
As of Friday’s 4:00 pm ET closing bell, the following US indexes were in the green:
The S&P 500 closed at 4,478.03, down 0.53%
The Dow Jones Industrial Average closed at 35,065.62, down 0.43% (150.27 points).
The Nasdaq Composite fell 0.36% to 13,909.24
The following are other developments:
Commodity shipments from a key Black Sea port were halted after Ukraine attacked a Russian naval vessel.
As Robinhood’s active users decline, Alphabet sold 90% of its stake last quarter.
According to a new report, the US debt-to-GDP ratio could reach 181% by 2053.
After halving shareholder payments, Carl Icahn’s firm dropped 30%.
Redfin reports that mortgage payments have increased 19% over the past year.
Commodities, bonds, and cryptocurrencies:
Brent crude, oil’s international benchmark, gained 0.71% to $86.12. West Texas Intermediate crude rose 1% to $82.72 per barrel.
The price of gold fell by 0.05% to $1,941.14 per ounce.
Ten-year Treasury yields fell 14.5 basis points to 4.04%.
The price of Bitcoin fell 0.64% to $29,239.
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