Posted 3/8/2024, 2:41:05 PM
Stocks Rise on Jobs Data Hinting at Fed Rate Cut; Costco Slips Despite Earnings Beat
- Stocks climbed on Friday after jobs report showed uptick in unemployment rate, signaling potential Fed rate cut
- S&P 500 rose 0.2%; Dow flat; Nasdaq gained 0.3%
- Costco shares fell 5% after quarterly sales miss despite earnings beat
- Broadcom stock dropped 2% despite revenue beat and $10B sales forecast for AI chips
- Gold futures continued rally, eyeing biggest weekly jump in 5 months amid rate cut optimism