Wall Street climbs after soft jobs data; Nasdaq eyes record close
SPY•Wall Street’s main indexes rose early Friday after softer-than-expected jobs data strengthened the case for the Fed to leave rates unchanged this month. The Nasdaq Composite was on track for a record close, while the 10-year Treasury yield dipped to around 5.21% and crude fell more than 4%.
1. Indexes rise after jobs data
Wall Street’s main indexes rose early Friday after a softer-than-expected jobs report strengthened the case for the Fed to leave rates unchanged this month. The Nasdaq Composite was on track for a record closing high, with the Nasdaq 100 and S&P 500 Growth Index also poised for records.
2. Yields and sectors
The 10-year Treasury yield dipped to around 5.21%, from 5.345% on Thursday, its highest level since 2002. Consumer discretionary, technology and materials were among the strongest S&P 500 sectors, each up more than 1.5%, while energy and healthcare were lower.
3. Oil and stocks
U.S. crude futures fell more than 4%, weighing on energy shares. Nvidia was also poised to finish at a record close, while gold and silver miners and semiconductor stocks posted gains.
