Mid-Day Update: Wall Street Mixed After Weak Jobs Report
Major US stock indices were mixed around midday on Friday as investors evaluated the newly proposed tariffs on US goods by China and fresh readings on the US job market.
In economic news, July non-farm payrolls increased 157,000, missing the 190,000 consensus, while the prior month's gain was revised to 248,000 from 213,000. The unemployment rate ticked down to 3.9% from 4.0%, as expected. Hourly earnings were up 0.3% in line with consensus.
The June trade deficit widened 7.3% to -$46.3 billion after May's 6.3% narrowing to -$43.2 billion, revised from -$43.1 billion.
The Markit services Purchasing Managers' Index (PMI) fell 0.5 point to 56.0, below expectations for 58.8, in the final July reading from 56.5 in June.
The July Institute for Supply Management (ISM) non-manufacturing index dropped 3.4 points to 55.7, much weaker than the 58.8 expected, after edging up 0.5 ticks to 59.1 in June.
In Europe, equities moved higher after corporate earnings, including from regional banks Credit Agricole and Royal Bank of Scotland ( RBS ).
Crude oil is down 0.38% to $68.70 per barrel. Natural gas is up 1.46% to $2.857 per 1 million BTU. Gold is up 0.57% to $1,227.00 an ounce, while silver is up 1.01% to $15.54 an ounce. Copper is up 1.22% to $2.771 per pound.
Among energy ETFs, the United States Oil Fund is down 1.64% to $14.13 with the United States Natural Gas Fund is up 1.47% to $23.42. Among precious-metal funds, the VanEck Vectors Gold Miners ETF is up 1.46% to $21.25 while SPDR Gold Shares is up 0.69% to $115.31. The iShares Silver Trust is up 1.11% to $14.59.
Here's where the markets stand at mid-day:
NYSE Composite Index is up 0.24% to 12,928.93
Dow Jones Industrial Index is up 0.30% to 25,401.19
S&P 500 is up 0.16% to 2,831.85
Nasdaq Composite Index is down 0.13% to 7,792.36
FTSE 100 is up 1.17% to 7,664.84
DAX is up 0.55% to 12,615.76
CAC 40 is up 0.33% to 5,478.98
Nikkei 225 is up 0.06% to 22,525.18
Hang Seng Index is down 0.14% to 27,676.32
Shanghai China Composite is down 1% to 2,740.44
NYSE SECTOR INDICES
NYSE Energy Sector Index is down 0.36% to 12,008.86
NYSE Financial Sector Index is up 0.17% to 8,097.74
NYSE Healthcare Sector Index is up 0.37% to 15,497.57
(+) GRPN (+1.4%) Q2 results miss Street view
(+) GPRO (+20.1%) Tops Q2 estimates
(+) KHC (+7.6%) Q2 results exceed expectations
(-) SYMC (-11.6%) Tops Q1 estimates, but guidance mostly below Street consensus
(-) ATVI (-3.5%) Tops Q2 estimates, but guidance below views
(-) TSRO (-16.5%) Q2 misses expectations
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