04:23 PM EDT, 08/01/2025 (MT Newswires) -- US benchmark equity indexes were lower on Friday following a weaker-than-expected July jobs report and President Donald Trump's announcement of new tariffs on imports from several countries.

* The July jobs report showed US nonfarm payrolls rose by 73,000, well below forecasts of about 100,000 to 104,000, according to surveys by Dow Jones and Bloomberg. The Bureau of Labor Statistics issued unusually large downward revisions to prior months, cutting June job growth to 14,000 from 147,000 and May to 19,000 from 125,000, marking the steepest two-month net reduction since May 2020. The unemployment rate inched up to 4.2% from 4.1%, in line with analyst expectations.

* Trump signed an executive order imposing new reciprocal tariffs on US imports, ranging from 10% to 41%. The White House said goods rerouted to avoid duties will face an additional 40% levy, while Canada, a top US trading partner, saw its tariff rate jump to 35% from 25%. India's exports will face 25% tariffs, Taiwan 20%, Switzerland 39%, and South Africa 30%, the White House statement added.

* September West Texas Intermediate crude oil fell $2.08 to settle at $67.18 per barrel, while September Brent crude, the global benchmark, was last seen down $2.24 to $69.46.

* Monolithic Power Systems ( MPWR ) shares rose nearly 11% after the company reported Q2 results that exceeded projections.

* Eastman Chemical ( EMN ) shares were down nearly 19% after the company reported Q2 results that came in below market expectations.