Stocks ended Friday mixed after a stronger-than-expected jobs report: the Nasdaq rose 1.1% and the S&P 500 gained 0.3%, while the Dow Jones Industrial Average slipped 0.5%. All three indexes still finished the week lower.
The moves matter for anyone with a 401(k), an IRA or index funds, because index funds track these benchmarks, and the week’s swings showed up in them.
| Friday close, Nov. 6 | Level | Change |
|---|---|---|
| Dow Jones | 51,285.73 | -237.33 (-0.46%) |
| S&P 500 | about 7,377 | +0.31% |
| Nasdaq | 24,579.42 | +1.09% |
The jobs report behind the moves
The Labor Department’s October jobs report, released Friday morning, showed employers added 165,000 jobs. The unemployment rate was 4.1%. The report said the prior two months’ job totals were revised up by 84,000 combined, and that average hourly wages rose 0.4% from September and 3.1% from a year earlier.
According to CME Group’s FedWatch tool, traders raised their bets on a Federal Reserve rate hike in December after the report.
Who moved the most
Software company JFrog jumped about 35% after it raised its full-year outlook, reporting third-quarter revenue up 31% and cloud revenue up 60%.
Chip and AI stocks, which fell hard Thursday, bounced. AMD rose 11.04% to $449.04, Micron gained 5.12% and Nvidia 2.78%. AppLovin, Qualcomm, Arm and Tesla also rallied.
Microsoft and Apple slipped.
How the week ended
All three major indexes finished the week lower.
JBizNews Desk | Wall Street
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