Hi,
moomoo ID:NaN
Log Out
English
Back
Log in to access Online Inquiry

Wall Street Tumbles Pre-Bell as US Economy Adds 528,000 Jobs

MT Newswires ·  {{timeTz}}

09:27 AM EDT, 08/05/2022 (MT Newswires) -- US stocks turned lower ahead of Friday's opening bell as traders digested monthly jobs data for clues on the health of the US economy.

Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures fell 1.1%, while Nasdaq futures slumped 1.5%.

Oil prices fell, with front-month global benchmarks Brent crude down 0.7% and West Texas Intermediate crude down 1%, hovering around multi-month lows amid fears of a possible recession following Bank of England's gloomy outlook

At 8:30 am ET, data showed a 528,000 increase in nonfarm payrolls in July, more than double than estimates for a 250,000 increase, compared with an upwardly revised 398,000 increase in June. The unemployment rate fell to 3.5%, compared with estimates for a no change at 3.6%, according to Bloomberg data.

In other world markets, Japan's Nikkei closed 0.9% higher, Hong Kong 's Hang Seng closed 0.1% higher, and China 's Shanghai Composite closed 1.2% higher. Meanwhile, UK's FTSE 100 fell 0.2% and Germany's DAX index declined 0.6% in Europe's early afternoon session.

In equities, shares of DoorDash (DASH) were up more than 5% higher pre-bell after the company posted higher Q2 revenue. US Well Services (USWS) shares increased nearly six fold after the company said it has implemented a one-for-six reverse stock split. Marker Therapeutics (MRKR) nearly doubled after the company said the US Food and Drug Administration cleared the company's investigational new drug application for a non-Hodgkin lymphoma treatment.

On the losing side, Hyzon Motors (HYZN) shares slumped 36% after the company said it plans to renegotiate a pending deal to acquire the equity interest of its joint venture partner in Hyzon Motors Europe. Finance of America (FOA) shares decreased nearly 14% after the company swung to a Q2 adjusted loss.

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites https://www.futuau.com and https://www.moomoo.com/au. Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.