(Bloomberg)
(Bloomberg)

US stocks mixed as investors weigh jobs, Amazon

  • US stocks were mixed as traders weighed a better-than-expected jobs report with a disappointing sales forecast from Amazon
  • WTI crude rose 1.4% to $54.56 a barrel. Gold fell 0.2% to $1,318.34 an ounce

US stocks drifted as traders weighed a better-than-expected jobs report with a disappointing sales forecast from Amazon.

The S&P 500 Index was little changed, leaving the gauge set for a weekly gain exceeding 1%, after data showed nonfarm payrolls increased by 304,000, the most in almost a year. Tech-heavy gauges underperformed as Amazon slumped. American equities notched the best month in more than three years in January on optimism the Federal Reserve won’t rush to raise borrowing costs.

Economic data, trade negotiations and the ongoing earnings season that’s given investors mixed signals are setting the tone for trading ahead of the weekend. Solid corporate reports bolstered technology shares earlier in the week, though Amazon’s disappointing sales forecast on Thursday damped optimism. On the trade front, Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer will head to China in mid-February for more talks after the Asian nation promised to expand purchases of US goods after the latest round of discussions.

“Having strong data back up the view that the economy is on a strong footing is good, but still there’s some lingering uncertainties out there, particularly with global trade," said Charlie Ripley, a senior investment strategist for Allianz Investment Management.

(Bloomberg)

The dollar was steady as US Treasury yields edged higher. Oil climbed past $54 a barrel in New York, reaching the highest since November.

Elsewhere, European equities drifted and the pound weakened as data showed UK manufacturing fell to a three-month low in January. Asian stocks headed for a fourth consecutive weekly advance.

These are the main moves in markets:

Stocks

The S&P 500 Index was little changed as of 11:01 am in New York. The Stoxx Europe 600 Index rose 0.1%. The MSCI Emerging Market Index slipped 0.1%.

Currencies

The Bloomberg Dollar Spot Index was little changed. The euro increased 0.2% to $1.1468. The British pound declined 0.1% to $1.3093. The Japanese yen fell 0.4% to 109.37 per dollar.

Bonds

The yield on 10-year Treasuries rose five basis points to 2.68%. Germany’s 10-year yield climbed one basis point to 0.16%. Britain’s 10-year yield rose three basis points to 1.24%. Italy’s 10-year yield jumped 15 basis points to 2.74%.

Commodities

West Texas Intermediate crude rose 1.4% to $54.56 a barrel. Gold fell 0.2% to $1,318.34 an ounce.

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