Caseys General Stores Inc CASY:NASDAQ

Last Price$156.08Cboe Real-Time Last Sale as of 10:09AM ET 5/29/20
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Today's Change-1.72(1.09%)
Bid (Size)$155.27 (6)
Ask (Size)$156.94 (100)
Day Low / High$154.78 - 157.16
Volume10.6 K

Stocks Fluctuate in Early US Trading as Payrolls Post Sharper-Than-Expected Drop While Oil Rallies Further

10:10AM ET 4/03/2020 MT Newswires
Stocks were mixed in early trading on Friday after the US shed jobs for the first time in almost a decade as the COVID-19 pandemic took its toll on the world's biggest economy, while another jump in oil prices added support to the measures.

Nonfarm payrolls decreased by 701,000 in March, wider than the consensus on Econoday for a slide of 150,000. The unemployment rate spiked to 4.4% from 3.5% in February as job losses mounted in the face of the spread of the respiratory disease that's infected more than a million people around the world.

Markets got some help recouping losses from another strong day of gains for the oil sector, with prices for West Texas Intermediate jumping 8.5% to $27.47 a barrel and Brent up by 13% to $33.79 a barrel amid growing hopes for output cuts by top producers. Apache (APA) gained 7.5% and Occidental Petroleum (OXY) was up 6.6%.

Materials added 0.6% to be among the gainers on the S&P 500, while utilities shed 1.1% in the biggest decline and financials dipped 0.6%. On the Dow Jones Industrial Average, UnitedHealth Group (UNH) fell 2.2% while Boeing (BA) added 2.8% as the benchmark's components about evenly split between gainers and decliners.

In company news, Tesla (TSLA) jumped 9.7% after reporting first-quarter deliveries and production numbers that the electric-car maker said were a record for the period. Etsy (ETSY) climbed 7.9% after Chief Executive Josh Silverman said the company's gross merchandise value rose about 32% year over year, even amid the pandemic.

Casey's General Stores (CASY) fell 5.5% as the convenience-store operator withdrew its fiscal 2020 guidance late Thursday due to COVID-19, but said it has ample liquidity to weather the crisis. CarMax (KMX) was 2% lower after analysts including Wedbush and Credit Suisse cut price targets on the company.

In morning trading, the Nasdaq and the S&P 500 were both up about 0.2% while the Dow was down 0.1%.