AllMarket Update
logoArgusSeptember 04, 2020

Market Update: MDB, CPB

Sector(s)
Technology, Consumer Defensive
Summary

Stocks continued to drop on Friday morning, extending Thursday's losses, following an August employment report that showed a slowdown in job creation from June and July. The Labor Department said that the U.S. economy added 1.371 million payroll jobs in August, down from 1.734 million in July and below the Reuters consensus forecast of 1.4 million. The official unemployment rate fell to 8.4% from 10.2% in July, and was better than the consensus estimate of 9.8%. The Dow fell 1.9%, the S&P 2.5%, and the Nasdaq 3.6%. Crude oil fell below $41 per barrel, while gold traded near 1932 per ounce.

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