Wall Street opened mixed on the vague jobs report; Dow up 40 points

 US stock markets opened mixed on Friday, of course ending the week lower after a jobs report failed to dispel worries about labor shortages and inflationary pressures.

By 9:45 AM ET (1445 GMT), the Dow Jones had gained 41 points, or 0.1%, to 34,681. The S&P 500 also gained 0.1% but the Nasdaq Composite dropped 0.4%, amid doubts that the jobs report will do little to convince the Federal Reserve to change its mind about the bond market. end their bond purchases. 

James Bullard, head of the conservative side of the St. Louis, said that the Fed should complete the withdrawal phase from the quantitative easing program no later than March next year.

The Labor Department said earlier that nonfarm payrolls increased by just 210,000 in October, the smallest monthly gain for the whole year and much lower than the consensus forecast of 550,000. 

However, other parts of the report painted a brighter picture, with the unemployment rate falling to 4.2% as labor force participation rose to its highest level since its inception. epidemic. Both permanent and temporary layoffs also fell to their lowest levels in more than a year.

DocuSign (NASDAQ:DOCU) stock was in the spotlight for falling nearly 40% after the company warned late Thursday that its revenue growth was slowing, a sign of changing behavior as the pandemic is beginning to reverse. 

The company has been one of the biggest beneficiaries of the shift to a work model that incorporates software to support remote work. However, it also boasts one of the highest valuations of any company, with a market value of 20 times expected sales this year.

Shares of Smith & Wesson (NASDAQ:SWBI) plummeted, falling 25% to a seven-month low after reporting quarterly sales fell 7% last quarter.

Elsewhere, China's ADRs tumbled after Didi Global confirmed plans to delist, stoking fears of an exit from US capital markets under regulatory pressure on both sides of Thailand. Binh Duong. Didi's ADR fell 15%, while Alibaba's (NYSE:BABA) ADR fell 10.2% and Pinduoduo's ADR fell 11.2%

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