AllMarket Update
logoArgusAugust 07, 2020

Market Update: CL, DIS, LLY, WEN, APO

Communication Services, Financial Services, Healthcare, Consumer Defensive, Consumer Cyclical

Stocks fell on Friday morning as a stalemate in Congress over coronavirus relief and increased U.S.-China tensions, prompted by U.S. restrictions on Chinese social media networks, offset slightly better-than-expected July employment data. The Labor Department said that the U.S. economy added 1.763 million payroll jobs in July, down from 4.791 million in June, but above the Reuters consensus forecast of 1.6 million. The official unemployment rate also fell to 10.2% from 11.1% in June, and was better than the consensus estimate of 10.6%. The Dow fell 0.4%, the S&P 0.2%, and the Nasdaq 0.5%. Crude oil fell more than 1% to $41.50 per barrel, while gold traded near $2038 per ounce.

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