Wall Street markets lifted on Friday as a softer‑than‑expected jobs report eased worries about the U.S. labor market.
Market Overview
At 10:30 a.m. ET, the major indexes were higher:
- S&P 500: +0.5% (around 6,947 points)
- Dow Jones Industrial Average: +0.4% (about 49,420 points)
- Nasdaq Composite: +0.6% (roughly 23,569 points)
All sectors of the S&P rose, led by utilities, which jumped about 1.5%.
Key Stock Movers
- Intel (INTC): +7.5% after President Trump said he had a "great meeting" with the CEO.
- General Motors (GM): -3.6% after the company announced a $6 billion charge related to its electric‑vehicle projects.
- Mortgage lenders: Shares of LoanDepot (+19%), Rocket Companies (+6.1%) and Opendoor (+12.7%) rose after Trump directed officials to buy $200 billion of mortgage‑backed securities to help lower housing costs.
- Vistra Corp (VST): +13% after Meta Platforms agreed to purchase power from its nuclear plants.
- Constellation Energy and Entergy: Up 4% and 2% respectively.
Energy and Commodities
Oil prices edged higher on worries about supply from Venezuela and Iran, plus unrest in the Middle East:
- Brent crude: $62.49 per barrel (+0.8%).
- WTI crude: $58.27 per barrel (+0.9%).
The White House plans to meet oil firms on Friday to discuss Venezuelan export deals.
Gold and Other Metals
Gold inched up as investors balanced the weak jobs data with broader policy and geopolitical uncertainty:
- Spot gold: $4,485.73 per ounce (+0.2%).
- Feb futures: $4,483 per ounce (+0.5%).
- Silver: $78.42 per ounce (+2%).
- Platinum: $2,290.20 per ounce (+1%).
- Palladium: $1,831.18 per ounce (+2%).
What This Means for You
The softer jobs numbers suggest the economy may be cooling, which can be good for stocks if it eases inflation pressures. However, upcoming Supreme Court decisions on tariffs and ongoing geopolitical risks keep the outlook mixed. Keep an eye on the sectors that moved most today—technology, automotive, and mortgage finance—if you’re thinking about rebalancing your portfolio.
Remember, this is perspective, not a prediction. Do your own research before making any investment decisions.