Equity Markets Mixed After Q2 Higher Employment Costs

MT Newswires Live
2025/08/01

US benchmark equity indexes are on track to close mixed on Thursday, after the Q2 US employment cost index gain exceeded expectations and initial jobless claims increased.

The Dow Jones Industrial Average was down 0.4% to 44,269.17, while the S&P 500 fell 0.1% to 6,355.25. Nasdaq Composite gained 0.2% to 21,162.29. Among sectors, communications led the gainers while healthcare rallied the decliners.

C.H. Robinson Worldwide (CHRW) was the top gainer on the S&P 500, up 19%. The company posted better-than-expected Q2 adjusted earnings while revenue fell year-over-year.

EBay (EBAY) shares were up 18%, the second-top gainer on the S&P 500. The company's Q2 non-GAAP earnings and revenue exceeded the Street's estimates.

Align Technology (ALGN) shares sank 36%, the worst S&P 500 performer, after Morgan Stanley downgraded the stock to equalweight from overweight and cut its price target to $154 from $249. Separately, some analysts also cut their price targets, including HSBC to $140 from $180, Stifel to $200 from $275, and Piper Sandler to $190 from $250.

The 10-year US Treasury yield was down 1.2 basis points to 4.37%, while the two-year rate increased 0.8 basis points to 3.96%.

September West Texas Intermediate crude oil fell 1.3% to $69.13 a barrel.

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