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US Equities Markets End Lower Friday as US Economy Adds More Jobs Than Expected
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US Equities Markets End Lower Friday as US Economy Adds More Jobs Than Expected
Jan 10, 2025 1:25 PM

04:05 PM EST, 01/10/2025 (MT Newswires) -- US benchmark equity indexes fell Friday as markets assessed official data showing that the economy added more jobs than expected in December.

* Total US nonfarm payrolls rose by 256,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 165,000 increase, according to a survey compiled by Bloomberg.

* "This was a robust employment report that reinforces the resilience of the US labor market and expansion and will keep the (Federal Reserve) on hold in January as they try to bring inflation pressures down," BMO Capital Markets said.

* Markets are widely expecting the central bank's Federal Open Market Committee to leave interest rates unchanged later this month, according to the CME FedWatch tool.

* February West Texas Intermediate crude oil closed up $2.63 to settle at $76.55 per barrel, while March Brent crude, the global benchmark, was last seen up $2.75 to $79.67 after the Biden Administration imposed additional sanctions on Russia's oil exports.

* Constellation Brands ( STZ ) shares slumped 17% as the beer and wine company lowered its annual sales outlook after fiscal Q3 results missed Wall Street's expectations.

* Constellation Energy ( CEG ) agreed to acquire Calpine for $26.6 billion in cash, stock and assumed debt. Constellation shares jumped 25%.

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