(Sharecast News) - Major indices closed higher on Friday as a much weaker-than-expected non-farm payrolls report made a September rate hike from the Federal Reserve unlikely.
At the close, the Dow Jones Industrial Average was up 0.28% at 54,036.93, while the S&P 500 advanced 0.62% to 7,757.64 and the Nasdaq Composite saw out the session 1.30% firmer at 26,690.62.
The Dow closed 151.83 points higher on Friday, taking a bite out of losses recorded in the previous session.
Figures released earlier by the Bureau of Labor Statistics showed the US economy unexpectedly shed jobs in July, Non-farm payrolls fell by 23,000 following a revised 20,000 increase in June, missing consensus expectations for an 80,000 increase. June's figure was revised down from a 57,000 jump, while May's figure was revised down from a 129,000 gain to a 63,000 increase. The BLS said employment declined in local government, education and retail trade. Employment continued to trend up in healthcare, however.
Meanwhile, the unemployment rate dipped to 4.1% last month from 4.2% in June, versus expectations for it to be unchanged. Average hourly earnings rose just $0.02, taking the 12-month average to 3.2%, missing expectations for a 3.5% increase.
Investors also continued to keep an eye on developments in the Middle East following reports that draft terms in an agreement between Iran and Oman over the Strait of Hormuz include Tehran banning US and Israeli ships and requiring compensation from hostile countries before they're allowed to use it.
On the corporate front, Airbnb surged 15% after it posted better-than-expected second-quarter earnings and lifted its outlook for 2026, while cybersecurity firm Cloudflare shot up 13% as it bumped up its annual profit guidance and posted solid second-quarter results, and Under Armour slumped as the sportswear company downgraded its full-year revenue expectations.
Dow Jones - Risers
Intel Corp. (INTC) $101.65 5.09%
Salesforce.Com Inc. (CRM) $192.74 3.20%
Microsoft Corp. (MSFT) $499.99 2.15%
Home Depot Inc. (HD) $355.62 1.75%
International Business Machines Corporation (CDI) (IBM) $237.28 1.65%
3M Co. (MMM) $182.90 1.21%
Cisco Systems Inc. (CSCO) $121.43 1.12%
Boeing Co. (BA) $234.42 0.96%
Johnson & Johnson (JNJ) $259.24 0.88%
Unitedhealth Group Inc. (UNH) $407.08 0.77%
Dow Jones - Fallers
Dow Chemical Co. (DOW) $29.34 -3.17%
Visa Inc. (V) $362.50 -2.15%
Caterpillar Inc. (CAT) $842.19 -1.72%
Chevron Corp. (CVX) $186.56 -1.41%
Procter & Gamble Co. (PG) $145.79 -0.80%
Nike Inc. (NKE) $41.70 -0.71%
McDonald's Corp. (MCD) $274.48 -0.64%
Apple Inc. (AAPL) $313.33 -0.51%
American Express Co. (AXP) $340.91 -0.49%
Amgen Inc. (AMGN) $410.95 -0.45%
Nasdaq 100 - Risers
Microchip Technology Inc. (MCHP) $84.69 11.11%
Workday, Inc. (WDAY) $179.64 9.74%
QUALCOMM Inc. (QCOM) $167.86 7.58%
Cognizant Technology Solutions Corp. (CTSH) $57.67 7.33%
Biomarin Pharmaceutical Inc. (BMRN) $63.81 6.60%
Skyworks Solutions Inc. (SWKS) $70.62 6.50%
KLA-Tencor Corp. (KLAC) $198.11 6.22%
Gen Digital Inc. (GEN) $29.17 6.21%
Lam Research Corp. (LRCX) $311.35 5.55%
Applied Materials Inc. (AMAT) $539.14 5.27%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
DENTSPLY Sirona Inc. (XRAY) $12.12 -13.30%
Expedia Group Inc. (EXPE) $310.68 -5.41%
Monster Beverage Corp (MNST) $90.36 -4.62%
American Airlines Group (AAL) $15.94 -3.10%
Sirius XM Holdings Inc (SIRI) $29.91 -2.98%
Liberty Global plc Series C (LBTYK) $10.24 -2.66%
Alphabet Inc. Class A (GOOGL) $354.30 -2.39%
Marriott International - Class A (MAR) $353.91 -2.29%
Henry Schein Inc. (HSIC) $88.13 -2.07%
33.20 (0.31%)
0.00