Stocks
Strong Jobs Report Puts Pressure on US Stocks
US stocks closed mostly lower on Friday after stronger-than-expected labor market data gave the Federal Reserve more room to raise interest rates.
The S&P 500 lost 0.4%, while the Dow shed 272 points, and the Nasdaq added 0.2%.
Credit-sensitive sectors pulled back after the data as yields rebounded.
Alphabet shed 1.1%, Microsoft lost 2%, Tesla tumbled 5.9%, and Palantir fell 4.5%.
On the other hand, chipmakers rose, helping to support the Nasdaq: Nvidia gained 0.8%, Micron rose 6.1%, Intel added 4.5%, and Marvell advanced 7%
Amid signs of optimism surrounding OpenAI's new GPT model.