US stocks mixed after jobs report

US stocks mixed after jobs report

Data indicate jobs market cooling down, Fed's 1st rate cut in September still possible

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US were mixed on Friday after the release of the much anticipated jobs figures for June.

The Dow Jones Industrial Average was down 55 points, or 0.14%, to 39,252 at 10.02 a.m. EDT (1402GMT).

The S&P 500, on the other hand, rose eight points, or 0.14%, to new record-high of 5,575 and the Nasdaq gained almost 100 points, or 0.55%, to hit a fresh all-time high of18,288.

US economy added 206,000 jobs in June, more than market estimates of 191,000, according to Labor Department figures released earlier. Job additions for May, on the other hand, were revised down by 54,000, from 272,000 to 218,000.

The recent data indicates that job additions in the world's biggest economy slows down, which show that the job market is cooling down and the first interest rate cut by the Federal Reserve in September is still possible.

The VIX volatility index, also known as the fear index, rose 0.1% to 12.28. The 10-year US Treasury yield shed 0.8% to 4.313%.

The dollar index fell 0.04% to 105.08, while the euro increased 0.06% to $1.0817 against the greenback.

Precious metals were on the rise with gold rising 0.8% to $2,377 per ounce and silver adding 1.3% to $30.80.

Oil prices were down around 0.1%, with global benchmark Brent crude at $87.31 and US benchmark West Texas Intermediate at $83.83.

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