Indices advance as Apple recedes from lofty levels

By Baystreet Market Updates

American stocks were slightly in the green, as Apple shares declined, pushing the company’s market cap below $1 trillion.

The Dow Jones Industrials added on 57.75 points to 25,383.91, as WalMart and DowDuPont outperformed.

The S&P 500 picked up 3.78 points to 2,831, with consumer staples as the best-performing sector.

The NASDAQ gained 5.65 points to 7,808.34, as Apple fell 0.6%. The tech giant rose nearly 3% on Thursday, lifting its market cap above $1 trillion. Apple’s gains Thursday lifted the broader market as the S&P 500 closed higher.

The U.S. Labor Department said the stateside economy added 157,000 jobs last month. Economists expected a gain of 190,000.

The headline jobs growth number for July missed expectations, but past months’ figures were revised substantially higher. Plus, wage growth met expectations. Jobs growth for June was revised up to 248,000 from 213,000, while wages grew by 2.7% in July on a year-over-year basis.

Investors take a close look at the jobs report every month as they look for clues regarding the pace of the Federal Reserve’s future interest rate hikes. The Fed kept interest rates unchanged after a meeting this week, but market expectations for a rate hike in September are at 93.6%.

China said Friday it will slap tariffs on $60 billion in U.S. goods, with charges ranging from 5% to 25%. Many of the goods are agricultural-related, with others on various metals and chemicals.

Prices for the benchmark for the 10-year U.S.Treasury inched up, lowering yields to 2.97% from Thursday’s 2.99%. Treasury prices and yields move in opposite directions

Oil prices docked 24 cents to $68.72U.S. a barrel.

Gold prices gained $4.40 to $1,224.50U.S. an ounce.

This article provided by NewsEdge.