Dow Jones Today: Market Overview
Stocks declined on Friday as waning enthusiasm for AI impacted the tech sector, pushing the Nasdaq toward its worst week since President Donald Trump's 'Liberation Day' tariffs disrupted markets in early April.
Market Performance
- The Nasdaq Composite, known for its tech focus, fell about 0.5% Friday afternoon.
- The S&P 500 dipped 0.1%.
- The Dow Jones Industrial Average recovered from earlier losses and traded flat.
Despite this, all three major indexes remained well above their intraday lows.
Recent Market Movements
Yesterday saw steep losses, with the Nasdaq dropping nearly 2% as chipmakers and tech stocks faced pressure. This came despite strong earnings reports from Qualcomm (QCOM) and Arm Holdings (ARM).
Labor Market and Economic Data
The Bureau of Labor Statistics postponed the October jobs report due to the ongoing government shutdown, now in its 38th day.
Private data released yesterday revealed the labor market remains fragile. One report showed private employers announced more than 150,000 layoffs in October, the highest for that month in over 20 years.
Investors are watching jobs data closely as they try to predict the Federal Reserve's next move on interest rates.
Summary
The tech sector’s recent struggles, coupled with uncertain labor market conditions and delayed economic data, have fueled concerns about the Federal Reserve’s monetary policy direction.
Would you like the tone to be more formal or conversational?More News
- Aryna Sabalenka Survives Against Amanda Anisimova At WTA Finals
- Maybe Peloton is its own worst enemy
- 'Alarming': Brantford-Brant's jobless rate of 9.9 per cent highest in Ontario
- INSIDE BCHS - Tiny patients, mighty care: Inside neonatal intensive care unit
- Man confirmed dead by coroner after shooting on Centre Parkway in Lexington
- Are the government responsible for prison failures? Readers discuss
- Mohawk and South Asian women in Brantford, Ont., area partner to fundraise for Gaza | CBC News
- American Legion volunteers to fly flags this weekend for Veterans Day Tuesday
- Brazil’s Call to Action on Integrated Fire Management and Wildfire Resilience Elevates Wildfire as a Global Priority
- Germany supports Brazil's forest plan at climate talks