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Magnificent 7 stocks all see red after strong jobs data

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Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.

Shares of all the Magnificent 7 biggest technology stocks traded lower in premarket trading Friday in the wake of the stronger-than-expected September jobs data, compared with just two down stocks pre-data. The strong jobs data seemed to dash hopes that the Federal Reserve might soon end its policy of interest rate hikes, which has weighted on equity valuations. Shares of Apple Inc.

fell 0.9% to reverse a pre-data gain of 0.3%; of Alphabet Inc. lost 1.9% vs. a pre-data gain of 0.4%; of Meta Platforms Inc.

 

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