Shares of Redwire, Enphase, Core & Main, Republic Services, and Owens Corning traded higher in afternoon trading after the July jobs report showed an unexpected loss of 23,000 jobs, signaling a cooling labor market. Economists had forecast a gain of around 80,000 nonfarm payrolls, while the unemployment rate held steady at 4.1%. The weaker-than-expected data led investors to bet on a potential Federal Reserve interest rate cut, boosting growth stocks. Redwire jumped 14.8%, Enphase gained 5.2%, Core & Main rose 2.1%, Republic Services added 3%, and Owens Corning climbed 2.7%.
