Investing.com -- US stocks opened in mixed fashion on Friday after Labor Department data showed that the American economy added fewer jobs than anticipated in August, fueling expectations that the Federal Reserve may roll out a deeper interest rate cut at its upcoming policy gathering.The US economy added fewer jobs than anticipated in August, but rose from a sharply revised July figure, according to Labor Department data that could factor into the Federal Reserve's next policy decisions.
On a monthly basis, average hourly earnings growth also ticked up to 0.4% after contracting by 0.1% in July. The firm projected that it would deliver $14 billion in revenue in its fourth quarter, just under estimates of $14.04 billion, according to LSEG data cited by Reuters. The forecast was seen as a sign of possible sluggishness in the company's non-AI-related operations.
Elsewhere, crude stockpiles dipped by 6.9 million barrels to 418.3 million barrels during the week ended on Aug. 30, according to the US Energy Information Administration on Thursday. Analysts had forecast a draw of 1 million barrels, Reuters reported.
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