The Dow Jones, S & P 500 Index and the Nasdaq Composite opened sharply lower Friday, signaling a fifth straight day of stock market losses, as the February report showed a gain of just 20,000 jobs. The news came after China's trading data was added to global growth problems. Alibaba (BABA) and iQiyi (IQ) were among a number of China stocks that coincide with China ETFs. Costco Wholesale (COST) jump and Upland Software (UPLD) signaled a breakout while cybersecurity name Octa (OKTA) dived.
] Also Facebook (FB), Google parent Alphabet (GOOGL) and Amazon.com (AMZN) fell as Then Elizabeth Warren suggested breaking up tech giants. It was not clear whether these FANG shares were moving on it or just the general market.
Dow Jones Today
Dow Jones Industrial Average fell 0.8%, S&P 500 index 0.9% and Nasdaq 1.1%.
The S & P 500 index and the Nasdaq composite fell below their 200-day moving average on Thursday. But the current stock market recall follows 10 weeks of gain for Nasdaq.
February Job Report Mixed
Non-salary increased by only 20,000 in February, the weakest gain in 17 months and well below the 175,000 forecast. However, the unemployment rate dropped to 3.8% from 4%. Average hourly earnings increased by 3.4% over the previous year, the best gain since 2009.
Separately, US housing begins to increase 18.6% in January, far better than expected as activity hit a two-year low.
China Trade Data Weak
Accommodation, China trade figures came in much worse than expected. China exports fell 21% compared to a year earlier, while imports went up 5%. This was partly due to the moon's New Year, but both imports and exports fell more than expected.
The China report followed the European Central Bank, which issued a gloomy growth forecast for the euro area. Nevertheless, the ECB announced new lending incentives and pledged not to raise interest rates by 2020.
The Shanghai composite declined by 4.4%. It was due to the US listed market on Thursday, the weak trading data and the signs of tighter regulation on the stock market.
At the same time, the US ambassador to China said no summit between President Donald Trump and Chinese President Xi Jinping has been scheduled and that a Chinese trade is not "whatsoever."
China Stocks, China ETF Signal Weakness
Alibaba's stock fell almost 3%. The IQiyi share, a 2018 IPO that has been rebounding, sank nearly 5%.
At the top of the ETFs, KraneShares China Internet ETF (KWEB) fell almost 3%. Direxion Daily FTSE China Bull ETF (YINN) went 6% and Direxion Daily FTSE China Bear ETF (YANG) jumped 6%. The Direxion ETFs, which track 50 top-rated, negotiated stocks, are three times nominated.
Costco Stock, Upland Software Stock Jump
The Costco stock rose nearly 4% in early trading and regained its 200-day line. Later Thursday, Costco revenue increased by 42% to $ 2.01, a January shift in the second quarter, and shattered impressions by 34 cents.
Upland Software stock shot up 11%, clearing a 35.70 cup-with-shopping point of sale.  Octa Stock Felled On Guidance
The Octa result report was better than expected, with a loss reduction and a 50-year revenue jump. But the cyber security stock led to higher losses than expected in the first quarter and for the whole of 2019. Octa stock fell 10%, underestimating a 75.59 point.
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