Why U.S. Stocks Are Trading Lower Despite Upbeat Nonfarm Payrolls Report

U.S. stocks traded lower this morning following the release of jobs report for the month of June. Following the market opening Friday, the Dow traded down 0.40% to 31,259.22 while the NASDAQ fell 0.92% to 11,514.48. The S&P also fell, dropping, 0.65% to 3,877.42. Also check this: GameStop, Levi Strauss And 3 Stocks To Watch Heading Into Friday Leading and Lagging Sectors Health care shares rose by 0.4% on Friday. Meanwhile, top gainers in the sector included MyMD Pharmaceuticals, Inc. (NASDAQ: MYMD ), up 20% and iRhythm Technologies, Inc. (NASDAQ: IRTC ) up 22%. In trading on Friday, materials shares dipped by 1.2%. Top Headline The US economy added 372,000 payrolls in June, following a revised 384,000 growth in May. Analysts, however, were expecting for a 268,000 gain in jobs. Average hourly earnings for all employees on private nonfarm payrolls increased 0.3% to $32.08 in June. The US unemployment rate came in unchanged at 3.6% in June. Equities Trading UP Seritage Growth Properties (NYSE: SRG ) shares shot up 52% to $9.24 after the company appointed Adam Metz as Chairman. Preliminary proxy materials also indicated the board recommended shareholders to approve a proposed plan sale. Shares of Clovis Oncology, Inc. (NASDAQ: CLVS ) got a boost, shooting 36% to ... Full story available on Benzinga.com