Dow falls over 400 points after US economy adds 263k jobs in September – Aehr Test Systems (NASDAQ:AEHR), Aditxt (NASDAQ:ADTX)

US stocks traded lower this morning with the Dow Jones falling more than 400 points on Friday.

After Friday’s market open, the Dow fell 1.49% to 29,480.97, while the NASDAQ fell 2.52% to 10,792.82. The S&P 500 was also down 1.93% to 3,672.18.

Also check this out: Dow drops above 300 points, volatility in the markets is increasing

Leading and lagging sectors

Energy stocks rose 0.5% on Friday. The leadership of the sector was strength Nordic American Tankers Limited NAT and NineEnergy Service, Inc. NINE.

In Friday trading, shares in information technology fell 2.9%.

top heading

The US economy added 263k jobs in September, the fewest since April 2021 but still above analyst estimates of 250k. The US unemployment rate fell to 3.5% in September, while the average hourly wage rose 0.3% to $32.46 in September.

Stock trading UP

• Aditxt, Inc. ATX Shares rose 27% to $4.2199 after the company announced that FedEx would feature AditxtScore in a video presentation.
• shares of Aehr test systems ahr got a boost, soaring 19% to $16.52 after the company announced better-than-expected Q1 EPS and sales results and released guidance.
• Provention Bio, Inc. PRVB Shares were also higher, gaining 12% to $6.98. Provention Bio announced that it has entered into a co-promotion agreement with Sanofi US to launch its lead investigational drug candidate teplizumab. Jefferies kept Provention Bio on a buy, increasing the price target to $15 from $10.

Stocks are trading down

• Avenue Therapeutics, Inc. CLOSE VIEW Shares fell 58% to $2.63 after the company offered about 3.6 million units at $3.30 per unit.
• shares of InVivo Therapeutics Holdings Corp. NVIV fell 35% to $5.16 after the company announced $9 million in registered direct and private placement offerings, which were market-priced under Nasdaq rules.
• Atlis Motor Vehicles, Inc. AMV was down, falling 30% to $17.06 on post-IPO volatility.

Also Read: Why Cyclerion Therapeutics Stock Traded About 38% Lower; Here are yesterday’s 70 biggest movers

raw materials

On commodities news, oil rose 2% to $90.25, while gold fell 0.9% to $1,705.40.

Silver was trading down 1.5% on Friday at $20.345, while copper was down 1.6% at $3.3925.

euro zone

European stocks were lower today. The euro zone’s STOXX 600 fell 0.8%, London’s FTSE 100 fell 0.2%, while Spain’s IBEX 35 index fell 1%. Germany’s DAX fell 1.2%, France’s CAC 40 fell 0.9% and Italy’s FTSE MIB index fell 0.9%.

France posted a current account deficit of EUR5.1 billion in August, up from a gap of EUR5.3 billion in the previous month, while the trade deficit widened to EUR15.3 billion in August from a revised EUR14.8 billion in July.

Labor productivity in the UK rose 0.3% qoq in the three months to June, while Halifax’s house price index rose 9.9% yoy in September. Industrial production in Germany fell 0.8% mom in August, while retail sales fell 1.3% mom in August. Import prices in Germany rose 32.7% yoy in August.

Business

• The US economy added 263k jobs in September, the fewest since April 2021 but still above analyst estimates of 250k. The US unemployment rate fell to 3.5% in September, while the average hourly wage rose 0.3% to $32.46 in September.
• Federal Reserve Bank of Minneapolis President Neel Kashkari will speak at 11:00 a.m. ET.
• Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 12:00 p.m. ET.
• Baker Hughes’ North American rig report for the last week is scheduled for release at 1:00 PM ET.
• Consumer credit data for August will be released at 3:00pm ET. Consumer credit is expected to rise $25.0 billion in August after rising $23.8 billion in the previous month.

Watch this: Investor fears are mounting ahead of US jobs data

COVID-19 update

The US has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,474,750 cases with around 1,087,350 deaths. India confirmed a total of at least 44,606,460 cases and 528,750 deaths, while France reported over 35,705,230 COVID-19 cases with 155,360 deaths. In total, there have been at least 625,721,310 cases of COVID-19 worldwide, with more than 6,558,290 deaths.