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Stock Market Today: Dow Rises on Energy, Banks Boost After Blowout Jobs Dent Tech

By Yasin Ebrahim AiVIF.com -- The Dow racked up gains late into the close to end higher Friday, on a jump in banking and energy stocks, but surging Treasury yields following a...
Stock Market Today: Dow Rises on Energy, Banks Boost After Blowout Jobs Dent Tech © Reuters.

By Yasin Ebrahim

AiVIF.com -- The Dow racked up gains late into the close to end higher Friday, on a jump in banking and energy stocks, but surging Treasury yields following a blowout jobs report weighed on tech keeping gains in the broader market in check.

The Dow Jones Industrial Average rose 0.23%, or 76 points, the Nasdaq was down 0.50%, and the S&P 500 fell 0.18%.

The U.S. economy added 528,000 new jobs in July, topping consensus for 250,000 new jobs in June, while the unemployment rate unexpectedly fell to 3.5%.

The jobs report also flagged an uptick in wage pressures that will likely keep inflation elevated, and give the Federal Reserve the green light to continue front-loading rate hikes.

Traders are betting the Federal Reserve’s peak interest rates, or the so-called terminal rate, is at 3.6%, but this won’t be enough to stem inflation given the strong labor market, Jefferies said.

“The terminal rate currently priced into the curve looks woefully inadequate. We expect the Fed to keep hiking through Q1’23 until they push the funds rate to 4-4.25%,” Jefferies added.

If the Fed turns more hawkish than expected, “the market will take that as a big negative, because right now it's pricing in a Fed funds rate that is nearer to the end of cycle,” Chief Market Strategist David Keller at StockCharts told AiVIF.com in an interview on Friday.

Two-year U.S. Treasury yields, which are sensitive to Fed rate hikes, jumped to its highest level in nearly two months. The 10-year yield also soared, rising more than 6%.

Growth sectors of the market, which tend to be unattractive in a rising rate environment, were the hardest hit with big tech and consumer discretionary stocks leading the downside.

Tesla (NASDAQ:TSLA) led the move lower in consumer stocks, down 6% after shareholders backed the company’s proposed 3-for-1 stock split.

Energy rose 2% to pare some losses from a day earlier as oil prices rebounded as fears about a recession hurting demand eased following the stronger jobs report. 

Banking stocks including JPMorgan Chase & Co (NYSE:JPM), meanwhile, led financials higher as rising rates tend to support lending margins.      

The earnings front, meanwhile, served up mixed quarterly results with LYFT the standout performer on the day following stronger than expected earnings.

LYFT (NASDAQ:LYFT) jumped 16% after the ride-hailing company reported a surprise quarterly profit as demand jumped to pre-pandemic levels.

AMC Entertainment (NYSE:AMC) reported a slightly wider-than-expected quarterly loss and announced that it would issue dividend to all common shareholders in the form of preferred shares. Its shares jumped nearly 19%.

The move in effect “creates a two-for-one stock split, with half listed under 'AMC' and half under 'APE' [stock ticker],” Wedbush said.  

Block (NYSE:SQ) fell 2% despite delivering quarterly results that beat on both the top and bottom lines as investors digested a 34% slump in its Cash App business.

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16-08-2022 19:56:44 (UTC+7)

EUR/USD

1.0141

-0.0019 (-0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

EUR/USD

1.0141

-0.0019 (-0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

GBP/USD

1.2047

-0.0008 (-0.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

USD/JPY

134.62

+1.29 (+0.97%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

AUD/USD

0.6999

-0.0022 (-0.32%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (10)

USD/CAD

1.2896

-0.0008 (-0.06%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (9)

Sell (0)

EUR/JPY

136.51

+1.05 (+0.78%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

EUR/CHF

0.9642

+0.0028 (+0.29%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (1)

Gold Futures

1,787.40

-10.70 (-0.60%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Silver Futures

19.915

-0.357 (-1.76%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (10)

Copper Futures

3.6128

-0.0047 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Crude Oil WTI Futures

89.42

+0.01 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Brent Oil Futures

94.91

-0.19 (-0.20%)

Summary

↑ Sell

Moving Avg:

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Sell (11)

Indicators:

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Sell (9)

Natural Gas Futures

9.224

+0.496 (+5.68%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (0)

US Coffee C Futures

223.93

-1.57 (-0.70%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Euro Stoxx 50

3,790.45

+0.83 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

S&P 500

4,297.14

+16.99 (+0.40%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (4)

DAX

13,836.26

+19.65 (+0.14%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (6)

FTSE 100

7,546.52

+37.37 (+0.50%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (3)

Hang Seng

19,830.52

-210.34 (-1.05%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

US Small Cap 2000

2,020.40

+7.30 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

IBEX 35

8,482.50

+55.50 (+0.66%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

BASF SE NA O.N.

44.160

+0.100 (+0.23%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (9)

Bayer AG NA

53.96

+0.40 (+0.75%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Allianz SE VNA O.N.

179.60

+0.82 (+0.46%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (6)

Adidas AG

170.23

-2.71 (-1.57%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.731

-0.003 (-0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Siemens AG Class N

111.12

-1.08 (-0.96%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (11)

Deutsche Bank AG

8.994

+0.052 (+0.58%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

    EUR/USD 1.0141 ↑ Buy  
    GBP/USD 1.2047 ↑ Buy  
    USD/JPY 134.62 ↑ Buy  
    AUD/USD 0.6999 ↑ Sell  
    USD/CAD 1.2896 Neutral  
    EUR/JPY 136.51 ↑ Buy  
    EUR/CHF 0.9642 ↑ Buy  
    Gold 1,787.40 ↑ Sell  
    Silver 19.915 ↑ Sell  
    Copper 3.6128 ↑ Sell  
    Crude Oil WTI 89.42 ↑ Sell  
    Brent Oil 94.91 ↑ Sell  
    Natural Gas 9.224 ↑ Buy  
    US Coffee C 223.93 Sell  
    Euro Stoxx 50 3,790.45 ↑ Sell  
    S&P 500 4,297.14 Neutral  
    DAX 13,836.26 ↑ Sell  
    FTSE 100 7,546.52 Sell  
    Hang Seng 19,830.52 ↑ Buy  
    Small Cap 2000 2,020.40 ↑ Buy  
    IBEX 35 8,482.50 Sell  
    BASF 44.160 ↑ Sell  
    Bayer 53.96 ↑ Sell  
    Allianz 179.60 ↑ Sell  
    Adidas 170.23 ↑ Sell  
    Lufthansa 6.731 Buy  
    Siemens AG 111.12 ↑ Sell  
    Deutsche Bank AG 8.994 ↑ Sell  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,580/ 6,680
(-10/ -10) # 1,639
SJC HCM6,600/ 6,700
(-10/ -10) # 1,659
SJC Hanoi6,600/ 6,702
(-10/ -10) # 1,661
SJC Danang6,600/ 6,702
(-10/ -10) # 1,661
SJC Nhatrang6,600/ 6,702
(-10/ -10) # 1,661
SJC Cantho6,600/ 6,702
(-10/ -10) # 1,661
Cập nhật 16-08-2022 19:56:46
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ↀ Giá vàng thế giới
$1,773.31 -5.17 -0.29%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI $89.38 -1.53 -1.72%
Brent $94.43 -1.46 -1.57%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.230,0023.540,00
EUR23.145,5524.441,71
GBP27.456,8428.627,78
JPY171,08181,12
KRW15,4318,80
Cập nhật lúc 18:54:08 16/08/2022
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