US Equity Markets End Mixed After Unexpectedly Higher Nonfarm Payrolls Report

MT Newswires Live
12 hours ago

US equity indexes were mixed Friday after October nonfarm payrolls expanded more than twice as expected.

* The October employment report showed nonfarm payrolls rose by 165,000, above the 70,000 increase expected in a Bloomberg-compiled survey, while September payrolls were revised to a 60,000 increase and August payrolls were revised to a 186,000 gain, for a net upward revision of 84,000 jobs.

* The unemployment rate fell to 4.1% in October from 4.2% in September, compared with no change expected, while the labor force participation rate rose to 61.9% from 61.8%.

* December West Texas Intermediate crude oil fell $0.04 to $90.48 per barrel, while January Brent crude, the global benchmark, was last seen down $0.41 at $97.88.

* Airbnb (ABNB) shares rose roughly 12%, the second best performer on the S&P 500 and Nasdaq, after the company reported a stronger-than-expected increase in Q3 earnings and revenue, and unveiled a share buyback authorization.

* Axon Enterprise (AXON) shares fell more than 18%, the S&P 500's worst performer, after the company reported Q3 non-GAAP earnings and revenue late Thursday below analyst expectations.

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