Category: Finance
Wall Street faces a challenging open due to a weak jobs report, with the Nasdaq down 2.3%. The U.S. economy added only 114,000 jobs, raising recession fears and concerns about Federal Reserve actions. Amazon and Intel reported disappointing earnings, while Apple exceeded expectations. Intel's shares plummeted over 20% after announcing layoffs. Other semiconductor stocks reacted negatively, while Exxon reported strong earnings. Chevron missed profit expectations, and Nextracker's shares fell amid project backlog concerns.
Keywords: Wall Street, Jobs Report, Earnings
Update At: 8/2/2024