US stocks wobbled on Friday as investors digested a stronger-than-expected jobs report that could impact expectations for interest-rate cuts. The S&P 500 and Dow Jones Industrial Average both saw modest gains, while the Nasdaq Composite remained in the red.
The May jobs report revealed that the US economy added 272,000 jobs, surpassing expectations. However, the unemployment rate also ticked higher to 4.0%. This data has led to speculation that the Federal Reserve may delay cutting interest rates until the fall.
Meanwhile, GameStop shares experienced volatility after the company announced a stock sale and reported quarterly results that missed analyst estimates. Retail investor Keith Gill, also known as “Roaring Kitty,” kicked off a highly anticipated livestream, expressing his belief in the company’s management.
Other stocks making headlines include AMC, Oddity Tech, and DocuSign, each experiencing their own fluctuations in response to various news and updates.
Overall, the market reaction to the jobs report has been mixed, with some viewing the strong job growth as a positive sign for the economy, while others are concerned about the uptick in the unemployment rate. The report has added complexity to the debate over interest rate cuts and their potential impact on inflation.
As investors continue to analyze the data and its implications, the stock market remains in a state of uncertainty, with various factors influencing trading patterns and investor sentiment.
