8/5/2022, 3:33 PM (Source: TeleTrader)
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Dow falls 200 pts following upbeat jobs report

Major equities in the United States erased premarket gains on Friday following the release of the July jobs report. Minutes before the opening bell, the US Labor Statistics Bureau published that total nonfarm payroll employment in the United States surged by 528,000 in July, more than double the estimated 250,000.

During premarket hours Lyft rallied 7.5% after it posted a better-than-expected quarterly profit. On the other side, Virgin shares fell 10% as its new commercial service was delayed. Apple informed its suppliers China is enforcing a labeling rule that may cause business disruptions if it is not followed, and Amazon announced a new merger deal with iRobot worth $1.7 billion.

The Dow Jones lost 212 points, or 0.65%, at 9:30 am ET, with Salesforce sinking 1.52%. A minute later, the Nasdaq 100 fell 1.36%, and Monster Beverage decreased by 4.13%. The S&P 500 declined 0.95%, as Warner Bros Discovery dropped by 17.02%.

The euro was down by 0.92% against the dollar at 9:27 am ET, selling for $1.0155.

Baha Breaking News (BBN) / JG