Stocks Lower at Open, July Jobs Report, Procter & Gamble Beats

TheStreetAugust 1, 2014

U.S. markets are trying to find their footing after a big sell-off Thursday. The labor department reported 209,000 jobs were added by U.S. employers in July. That's less than the 233,000 jobs economists expected. The unemployment rate bumped up to 6.2% from 6.1% in July. Dow-listed Procter and Gamble (PG) along with Chevron (CVX) were the main companies to report before the bell. Procter and Gamble reported its fourth quarter profit surpassing estimates but narrowly missed sales expectations. The maker of Pampers and other consumer products said its results were helped by cost cutting. Chevron reported earnings topping expectations. But just like its big oil counterparts, Chevron suffered from declining production. TheStreet's Susannah Lee reports from Wall Street.