- The major Wall Street indices are trading in negative territory on Friday.
- Nonfarm payrolls in the US increased less than expected in August.
- The S&P 500 real estate index is the biggest decline after the opening bell.
The major stock indices in the US opened slightly lower on Friday after the August jobs report showed a bleak outlook relative to the US labor markets At time of writing, the S&P 500 Index was down 0.15% on the day to 4,530, The Dow Jones Industrial Average was down 0.2% at 35,378 and the Nasdaq Composite was down 0.1% at 15,310.
Monthly data released by the US Bureau of Labor Statistics on Friday showed non-farm payrolls (NFPs) increased by 235,000 in August, compared with analysts’ estimate of 750,000. On a positive note, the Unemployment Rate fell to 5.2% from 5.4% in July as expected and the July NFP was revised up to 1.05 million from 943,000. Finally, the Labor Force Participation Rate remained unchanged at 61.7%.
Among the top 11 sectors of the S&P 500, the housing index is down 0.52% as the biggest decline in early trading. On the other hand, the Energy Index is posting small gains supported by a modest rise in crude oil prices.
S&P 500 chart (daily)
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