Stocks were down as U.S. tariffs on Chinese goods took effect and ahead of the June jobs report.
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Just after midnight tariffs were slapped on more than 800 goods from China worth $34 billion.
China’s customs authority, said China will levy tariffs on 545 items worth $34 billion in response to U.S.’s tariffs, according to the China Daily newspaper.
Dow Jones futures were lower by 0.02%. The S&P 500 was flat and the Nasdaq Composite were off 0.08%.
In Asia, the Shanghai Composite index finished the day up 0.5%, but 3.5% lower for the week.
Hong Kong’s Hang Seng was up 0.4%.
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Japan’s Nikkei ended the day 1.1% higher, but fell 2.3% for the week.
European markets traded mixed.
London’s FTSE was 0.22% higher. Germany’s DAX is lower by 0.04% and France’s CAC is up 0.20%.
The other event that traders will be focused on today will be the U.S. Employment Report for June.
Economists surveyed by Thomson Reuters forecast that the U.S. economy added 195,000 jobs in June while the unemployment rate is expected to hold steady at 3.8%, the lowest since April 2000.
The forecast for 195,000 is below the 223,000 jobs added in May, but above the three month average of 179,000 jobs added per month.
Stocks climbed Thursday as traders returned to work following the Fourth of July holiday with a plate full of economic reports to digest before the week ends.
The Dow Jones Industrial Average gained 181.92 points, or 0.75%, to 24,356.74. The S&P 500 rose 23.39 points to 2,736.61. The Nasdaq Composite jumped 83.75 points to 7,586.43.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24356.74 | +181.92 | +0.75% |
| SP500 | S&P 500 | 2736.61 | +23.39 | +0.86% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7586.4265 | +83.75 | +1.12% |
Data released on Thursday included jobless claims, which hit a six-week high of 231,000, but overall layoffs remained around their lowest in decades.
Private payroll processor ADP said the private sector added 177,000 jobs in June.
FOX Business’ Leia Klingel contributed to this article.
