US stocks slipped on Friday on concerns over slowing labor market following August jobs data.
As of 12:57 PM Eastern Time, the S&P 500 fell 0.5%, the Dow Jones Industrial Average was down 0.5%, and the Nasdaq Composite slipped 0.2%.
As of 10:10 AM Eastern Time, the S&P 500 added 0.1% to its all-time high and the Nasdaq Composite was 0.4% higher.
The Dow Jones Industrial Average was down 15 points, or less than 0.1%,
At the opening bell, the Dow Jones Industrial Average rose 35.2 points, or 0.08%, to 45,656.49. The S&P 500 rose 27.0 points, or 0.42%, to 6,529.08, while the Nasdaq Composite rose 152.7 points, or 0.70%, to 21,860.441.
The Labor Department said employers across the United States hired far fewer workers in August than Wall Street expectations.
The department also said that earlier estimates for June and July were overstated by 21,000 jobs.
In the bond market, the yield on the 10-year Treasury fell to 4.08% from 4.17% late on Thursday. The 2-year Treasury yield declined to 3.48% from 3.59%.
Gainers and Losers
Broadcom stock jumped 10.3% after the chipmaker reported stronger quarterly profit and revenue.
Tesla shares surged 3.7% after the electric vehicle maker proposed a payout package that could reach $1 trillion for CEO Elon Musk.
Smith & Wesson Brands stock soared 10.5% after the gun maker reported better quarterly results than expected.
DocuSign shares climbed 5.4% on the company’s stronger earnings.
Bullion
Gold prices surged to record high on Friday as weak US jobs data raised expectations for a bullion-supportive Federal Reserve rate cuts.
As of 1402 GMT, spot gold advanced 1.4% at $3,596.49 per ounce. US gold futures for December delivery rose 1.3% to $3,653.30.
Spot silver gained 1.5% to $41.29 per ounce, platinum added 1.9% to $1,393.25 and palladium fell 0.1% at $1,126.45.
Crude Oil
Oil prices fell for a third straight session on Friday on higher supply hopes.
By 1323 GMT, Brent crude futures fell $1.33, or 1.99%, to $65.66 a barrel, while US West Texas Intermediate crude dropped $1.36, or 2.14%, to $62.12.
For the week, Brent is down 3.6% and WTI down 2.95%.
