News Formal

Stock market today: Stocks slip after jobs report smashes expectations

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 25 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 63%

Nasdaq Composite News

Unemployment Rate,Keith Gill,Dow Jones Industrial Average

Investors are looking to the monthly jobs report for signs of labor market cooldown pivotal to the odds for a rate cut.

US stocks moved lower Friday after a jobs report seen as pivotal to expectations for interest-rate cuts showed much stronger hiring growth than expected. The S&P 500 fell 0.3%, while the Dow Jones Industrial Average shed 0.2%, coming off a lackluster session Thursday for the three major gauges. The tech-heavy Nasdaq Composite dropped around 0.4%. Investors have lifted stocks on the expectation that further data would suggest an economic cooldown.

The US economy added 272,000 jobs in May, smashing expectations. However, the unemployment rate did tick higher, rising to 4.0%. Read more: How does the labor market affect inflation? Elsewhere in markets, the wait is also on for a livestream apparently promised by GameStop booster Keith Gill, aka "Roaring Kitty." The event, scheduled for noon ET Friday, would be the first live YouTube appearance by Gill since he helped ignite the meme stock rally three years ago.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Stocks steady as investors await Nvidia earningsInvestors biding their time for Nvidia results looked to retail earnings and Fedspeak for clues to the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nasdaq slips after record as investors await Nvidia earningsInvestors biding their time for Nvidia results looked to retail earnings and Fedspeak for clues to the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: US futures tip lower as investors look for inspirationStocks have lost their bounce after a growing chorus of Federal Reserve officials made it clear that interest rates will need to stay higher for longer.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian stocks are mixed ahead of key U.S. jobs dataHONG KONG (AP) — Asian stocks were mixed Friday after a steady Thursday on Wall Street as markets anticipated the release of key U.S. jobs data later in the ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »