Dow Jumps Over 500 Points; Nonfarm Payrolls Top Estimates

U.S. stocks traded higher this morning, with the Dow Jones jumping more than 500 points on Friday.

Following the market opening Friday, the Dow traded up 1.29% to 42,867.21 while the NASDAQ gained 1.34% to 19,557.93. The S&P 500 also rose, gaining, 1.17% to 6,008.98.

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Leading and Lagging Sectors

Energy shares jumped by 1.8% on Friday.

In trading on Friday, utilities stocks rose by just 0.2%.

Top Headline

The U.S. labor market showed surprising resilience in May, as job creation outpaced forecasts and wage growth accelerated, defying concerns that mounting tariffs and trade friction would drag down economic momentum.

Nonfarm payrolls rose by 139,000 in May, beating consensus expectations of 130,000, according to data released Friday by the Bureau of Labor Statistics.

Equities Trading UP
           

• WEBUY GLOBAL LTD. (NASDAQ:WBUY) shares shot up 88% to $8.93.
• Shares of Davis Commodities Limited (NASDAQ:DTCK) got a boost, surging 80% to $1.0850 after the company announced approval of $30 million fundraising plan to establish Bitcoin reserves to strengthen asset allocation.
• Venus Concept Inc. (NASDAQ:VERO) shares were also up, gaining 57% to $3.7299 after the company announced it entered into a definitive agreement to sell its Venus Hair business to Meta Healthcare Group.

Equities Trading DOWN

• Northann Corp. (NYSE:NCL) shares dropped 41% to $0.79.
• Shares of EPWK Holdings Ltd. (NASDAQ:EPWK) were down 37% to $1.0499. EPWK officially kicked off its international business – EPWK International with the launch of the English site (intl.epwk.com).
• Vera Therapeutics, Inc. (NASDAQ:VERA) was down, falling 27% to $22.48.

Commodities

In commodity news, oil traded up 1.8% to $64.54 while gold traded up 0.1% at $3,376.50.

Silver traded up 1.7% to $36.400 on Friday, while copper rose 0.1% to $4.94.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.3%, while Spain's IBEX 35 Index rose 0.4%. London's FTSE 100 rose 0.3%, Germany's DAX 40 gained 0.1% and France's CAC 40 rose 0.2% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan's Nikkei gaining 0.50%, Hong Kong's Hang Seng Index falling 0.48%, China's Shanghai Composite gaining 0.04% and India's BSE Sensex gaining 0.92%.

Economics

• Nonfarm payrolls rose by 139,000 in May, beating consensus expectations of 130,000, according to data released Friday by the Bureau of Labor Statistics.
• Average hourly earnings rose 0.4% in May, the strongest monthly increase since January and ahead of the expected 0.3%.
• The US unemployment rate came in steady at 4.2% for May.

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