Posted 1/5/2024, 1:43:00 PM
Stocks Fall After Strong December Jobs Report; Palantir Slides on Downgrade
- Dow Jones futures and major indexes fell Friday after stronger-than-expected December jobs report. Palantir tumbled on analyst downgrade.
- Labor Department reported increase of 216,000 jobs in December, much stronger than expected 158,000. Unemployment rate remained at 3.7%.
- S&P 500 and Nasdaq poised to break 9-week winning streak. S&P down 1.7% this week, Nasdaq has fallen 3.3%.
- Magnificent Seven stocks Nvidia and Tesla traded mixed early Friday. Nvidia holding above double-bottom base entry while Tesla extended losing streak.
- Dow giants Apple and Microsoft traded lower ahead of Friday open. Apple below 50-day line and 192.93 buy point. Microsoft still above 366.78 entry.