US Equities Markets End Lower Friday as Economy Adds Fewer Jobs Than Expected

MT Newswires Live
08 Feb

US benchmark equity indexes ended lower Friday after data showed the economy added fewer jobs than projected in January, while a survey pointed to surging inflation expectations among consumers.

* Total nonfarm payrolls in the US rose by 143,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 175,000 increase, according to a survey compiled by Bloomberg.

"With inflation progress having stalled in recent months and heightened uncertainties on how far the new administration will go on tariffs, the (Federal Reserve) is likely to remain more cautious on rate cuts and hold the policy rate steady until sometime this summer," TD Economics said.

* US consumer sentiment reached its lowest level since last July, while year-ahead inflation expectations hit the highest since November 2023, preliminary February results from the University of Michigan's Surveys of Consumers showed. The survey indicated concerns regarding the negative impact of the Trump administration's tariff policy.

Trump intends to announce reciprocal tariffs on many countries next week, according to multiple media reports.

* March West Texas Intermediate crude oil closed up $0.39 to settle at $71 per barrel, while April Brent crude, the global benchmark, was last seen up $0.35 to $74.64 as the Trump Administration tightened sanctions on exports from Iran.

* Expedia (EXPE) shares jumped 17%. The company late Thursday delivered a Q4 beat and reinstated a quarterly dividend.

* Amazon.com (AMZN) shares fell 4%. The e-commerce and technology giant late Thursday logged stronger-than-expected Q4 results, though its revenue outlook for the first quarter fell short of Wall Street's estimates.

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