Nasdaq ticks to record despite jobs miss

US economy added 235,000 jobs vs. the 728,000 estimate

U.S. stock indexes finished mixed Friday, with the Nasdaq closing at an all-time high, after the August jobs report fell short of estimates. 

The Dow Jones Industrial Average declined 74 points, or 0.21%, while the S&P 500 index slipped 0.03% and the Nasdaq Composite index edged higher by 0.21% to post its third straight record close.  

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33970.47 -614.41 -1.78%
SP500 S&P 500 4357.73 -75.26 -1.70%
I:COMP NASDAQ COMPOSITE INDEX 14713.902994 -330.06 -2.19%

The August nonfarm payroll report showed the U.S. economy added just 235,000 jobs, less than the 728,000 estimate. The unemployment rate fell to 5.2%. 

In stocks, banks were mixed as the 10-year yield responded to the jobs report by climbing 3 basis points to 1.32%, swinging the yield curve slightly steeper.

Ticker Security Last Change Change %
BAC BANK OF AMERICA CORP. 39.11 -1.39 -3.43%
JPM JPMORGAN CHASE & CO. 152.96 -4.72 -2.99%
GS THE GOLDMAN SACHS GROUP, INC. 378.13 -13.33 -3.41%

Elsewhere, Apple Inc closed at an all-time high while Facebook Inc. and Alphabet Inc. finished just below their own peaks. 

Ticker Security Last Change Change %
AAPL APPLE, INC. 142.94 -3.12 -2.14%
FB FACEBOOK, INC. 355.70 -9.02 -2.47%
GOOG ALPHABET, INC. 2,780.34 -48.93 -1.73%

In deals, the merger between chipmakers Western Digital Corp. and Japan’s Kioxia is on track to receive regulatory approval from Tokyo as long as key technology stays in Japan, Reuters reports, citing two sources with knowledge of the industry regulator’s internal discussions.

Ticker Security Last Change Change %
WDC WESTERN DIGITAL CORP. 56.62 -1.30 -2.24%

Meanwhile, a Bloomberg report said the city of Beijing is considering a plan to take ride-sharing giant Didi Global Inc. under state control.   

Ticker Security Last Change Change %
DIDI DIDI GLOBAL INC 7.75 -0.55 -6.63%

In commodities, West Texas Intermediate crude oil lost 70 cents to $69.29 a barrel and gold climbed $24.90 to $1,833.60 an ounce.

Overseas markets were mostly lower. 

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European bourses were weaker across the board with Britain’s FTSE 100 slipping 0.46%, Germany's DAX 30 declining 0.37% and France’s CAC 40 sliding 1.08%. 

In Asia, Japan’s Nikkei 225 surged 2.05% after Prime Minister Yoshihide Suga said he would not run in his party’s leadership election. Elsewhere, in the region, Hong Kong’s Hang Seng index lost 0.762%, China’s Shanghai Composite fell 0.43%