Yahoo Finance Daily
Stocks seesaw, end day and week lower after cool jobs report: Stock Market News Today
Fri Jul 07 2023Description
Stocks ended lower as investors digested the release of the monthly US jobs report. The report showed mixed results, with employers adding 209,000 jobs in June but below expectations. The unemployment rate dipped to 3.6%. Construction jobs grew, particularly in non-residential and single-family construction. Rivian shares rose on positive news about vehicle deliveries and an Amazon partnership, while Levi Strauss cut its full-year guidance for revenue and earnings per share.
Insights
US jobs report falls short of expectations
The US jobs report for June showed that employers added 209,000 jobs, which was below expectations. This indicates a potential slowdown in job growth.
Construction industry remains strong
The construction industry continues to thrive, with the addition of 23,000 jobs in June. Non-residential and single-family construction are driving this growth.
Rivian's positive week boosts stock
Rivian experienced a strong week, leading to a more than 15% increase in stock value. This was fueled by positive news regarding vehicle deliveries and the company's partnership with Amazon.
Levi Strauss faces challenges
Levi Strauss saw a decline in stock value by more than 7% as the company cut its full-year guidance for revenue and earnings per share. This indicates potential challenges for the company.
Chapters
- Stocks end lower as investors digest US jobs report
- US jobs report shows mixed results
- Rivian shares rise on positive news
- Levi Strauss cuts full-year guidance
Stocks end lower as investors digest US jobs report
00:01 - 03:42
- S&P 500 fell around 0.3%, Dow Jones Industrial Average ended down 0.6%
- Nasdaq led gains earlier but ended down below the flat line
US jobs report shows mixed results
00:01 - 03:42
- US government data showed employers added 209,000 jobs in June, below expectations
- Unemployment rate dipped to 3.6%
- ADP jobs report signaled US economy is proving resilient
- Construction jobs grew by 23,000 in June from previous month
- Construction market is red-hot on non-residential and single-family construction
- Residential trade contractors added 10,000 jobs for home improvement projects
Levi Strauss cuts full-year guidance
00:01 - 03:42
- Shares of Levi Strauss fell more than7% as company cut full-year guidance for revenue and earnings per share