Shares of financial services firm Stifel Financial (NYSE:SF) fell 2.6% in the afternoon session after a weaker-than-expected U.S. jobs report sparked broader market concerns about a potential economic downturn. The U.S. Labor Department's report indicated that employers hired fewer workers in August than economists had forecast. Furthermore, previous hiring estimates for June and July were revised downward by a collective 21,000 jobs. This disappointing data follows other recent lackluster economic reports, leading traders to bet on a near-100% probability of a Federal Reserve interest rate cut at its next meeting. The broader market slipped as investors grappled with whether the job market has slowed just enough to warrant a rate cut or so much that it signals an impending economic downturn.
Shares of financial services firm Raymond James Financial (NYSE:RJF) fell 3.3% in the afternoon session after the broader market slipped following the release of a jobs report that raised concerns about the health of the U.S. economy. The U.S. Bureau of Labor Statistics reported that employers added only 22,000 jobs in the last month, significantly missing the 75,000 that economists had anticipated. Additionally, the unemployment rate increased to 4.3%, its highest level since 2021. While the weaker-than-expected data strengthens the case for the Federal Reserve to cut interest rates, it also fueled investor fears of an economic slowdown. The negative sentiment impacted the wider market, with the S&P 500 and Dow Jones Industrial Average also trading down during the session, indicating a broad-based sell-off rather than company-specific news.
Shares of global insurance giant AIG (NYSE:AIG) fell 3.3% in the afternoon session after a significantly weaker-than-expected U.S. jobs report sparked concerns about the health of the economy. According to the U.S. Bureau of Labor Statistics, non-farm payrolls increased by only 22,000 in August, a figure substantially below expectations. This disappointing data suggests a potential slowdown in economic activity. For a major insurance and financial services provider like AIG, a cooling economy can translate to lower business volumes and potential headwinds for its investment portfolio, leading to negative investor sentiment.
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Let's delve into the developments on the US markets one hour before the close of the markets on Friday. Below, you'll find the top gainers and losers within the S&P500 index during today's session.
Building products company Quanex (NYSE:NX) reported Q2 CY2025 results exceeding the market’s revenue expectations, with sales up 76.7% year on year to $495.3 million. On the other hand, the company’s full-year revenue guidance of $1.82 billion at the midpoint came in 1.6% below analysts’ estimates. Its non-GAAP profit of $0.69 per share was 18.1% below analysts’ consensus estimates.
Fashion conglomerate G-III (NASDAQ:GIII) reported Q2 CY2025 results beating Wall Street’s revenue expectations, but sales fell by 4.9% year on year to $613.3 million. On the other hand, next quarter’s revenue guidance of $1.01 million was less impressive, coming in 99.9% below analysts’ estimates. Its non-GAAP profit of $0.25 per share was significantly above analysts’ consensus estimates.
Used-car retailer America’s Car-Mart (NASDAQ:CRMT) missed Wall Street’s revenue expectations in Q2 CY2025, with sales falling 1.5% year on year to $341.3 million. Its non-GAAP loss of $0.69 per share was significantly below analysts’ consensus estimates.
Let's have a look at what is happening on the US markets one hour before the close of the markets on Friday. Below you can find the top gainers and losers in today's session.
A number of stocks fell in the afternoon session after a weaker-than-expected August jobs report heightened concerns about the health of the U.S. economy.
A number of stocks fell in the afternoon session after the latest jobs report showed nonfarm payrolls rose by only 22,000, significantly below the forecasted 75,000.
A number of stocks fell in the afternoon session after a much weaker-than-expected jobs report fueled concerns about a slowing economy and its impact on consumer spending.
Shares of pop culture collectibles manufacturer Funko (NASDAQ:FNKO)
fell 3.9% in the afternoon session after a broader market downturn triggered by a surprisingly weak August jobs report. The U.S. stock market saw sharp declines as the jobs data reinforced expectations for a Federal Reserve rate cut. While stocks initially rose on the prospect of lower borrowing costs, they quickly reversed as investors weighed the implications of an economic slowdown. Funko, as a consumer discretionary company, was affected by this negative sentiment, which saw numerous stocks in the sector decline. The report's indication of cautious hiring trends raises concerns about future consumer spending, which could directly impact companies that rely on non-essential purchases.
Shares of clothing and footwear retailer Boot Barn (NYSE:BOOT)
fell 4.7% in the afternoon session after a disappointing U.S. nonfarm payrolls report raised concerns about the health of the economy and consumer spending. The report showed a marginal gain of just 22,000 jobs, significantly missing the market estimate of 75,000. Furthermore, the unemployment rate increased to 4.3%, its highest level since December 2021. For a retail company like Boot Barn, which depends on strong consumer demand, signs of a cooling labor market can be concerning for investors. The weak employment data has heightened speculation that the Federal Reserve might consider a quarter-point interest rate cut at its next meeting to support the economy.
Shares of independent financial services firm LPL Financial (NASDAQ:LPLA) fell 6.3% in the afternoon session after a broad market sell-off triggered by a dismal August jobs report that signaled a slowing economy. The U.S. economy added only 22,000 nonfarm payrolls, a figure substantially below the forecasted 75,000, while the unemployment rate ticked up to 4.3%, its highest level since 2021. This unexpected weakness in the labor market led to a downturn in major indices like the S&P 500 and Dow Jones Industrial Average.
Shares of fertility benefits company Progyny (NASDAQ:PGNY)
fell 5.1% in the afternoon session after a broader market downturn triggered by a surprisingly weak U.S. labor market report. The decline was not driven by company-specific news, as the fertility benefits provider had recently announced a global expansion. Instead, the move was part of a market-wide negative reaction to new economic data. The report showed that nonfarm payrolls increased by only 22,000 in August, and the jobless rate rose to 4.3%. This sharp cooling in the labor market sparked fears of a more significant slowdown, leading to a flight to safer assets like Treasuries and causing stocks to fall. The negative sentiment was compounded by historical trends, as September is, on average, a seasonally weak month for the stock market.
Shares of financial services giant Charles Schwab (NYSE:SCHW) fell 5.8% in the afternoon session after a significantly weaker-than-expected U.S. jobs report sparked fears of an economic slowdown, dragging down the broader market and economically sensitive sectors like banking. The U.S. economy added only 22,000 jobs in August, falling far short of the estimated 75,000. This report from the labor market prompted a sell-off as investors weighed the possibility of a recession. The banking sector was particularly hard-hit, falling over 2% as concerns grew about the economy's health. While the soft labor market data could encourage the Federal Reserve to cut interest rates, the immediate market reaction was negative, with the potential for an economic downturn overshadowing optimism about looser monetary policy.
Shares of online vehicle auction company Copart (NASDAQ:CPRT) fell 3.9% in the afternoon session after the release of a surprisingly weak August jobs report, which showed a significant slowdown in hiring. The U.S. economy added only 22,000 jobs, falling far short of the 75,000 economists had forecasted, while the unemployment rate rose to a 46-month high of 4.3%. The Bureau of Labor Statistics report also contained downward revisions for previous months, intensifying concerns that the labor market's health is deteriorating. Several sectors, including manufacturing, financial activities, and information, reported job losses for the month. While the disappointing data initially fueled investor hopes for a Federal Reserve interest rate cut, major indices like the Dow Jones and S&P 500 later fell as concerns about a potential economic downturn took hold.
