Tech rebounds as Nasdaq and S&P rise, but Dow sinks 507 points
US markets opened mixed Friday, with the Nasdaq 100 up 1.48% and the S&P 500 gaining 0.23% as tech bounced back from Thursday's sell-off. The Dow Jones Industrial Average went the other way, dropping 507 points. Stronger-than-expected October jobs data set the backdrop.
Wall Street split down the middle Friday morning. The Nasdaq 100 jumped 1.48%, up 394 points, and the S&P 500 climbed 0.23% at the 9:30 am ET open, while the Dow Jones Industrial Average sank 507 points, or 0.99%. Tech names led the charge back after getting walloped Thursday.
The Dow's slide kept it out of the party. Its drop of 507 points stands in sharp contrast to the tech-heavy indexes, which shrugged off the previous session's steep sell-off and pushed higher out of the gate.
The morning's economic data gave traders something to chew on. Nonfarm payrolls rose by 165,000 in October, landing well above what analysts had expected — a reading that points to a labor market still running hot.
Currencies told their own story. The euro slipped 0.77% against the dollar at 9:28 am ET, changing hands at $1.11335.
It's a split-screen start to the session: chips and software rebounding, blue chips bleeding. More to come as the trading day develops.
TopicsDow Jones Industrial Average · Nasdaq 100 · S&P 500 · euro · US dollar
Source: breakingthenews.net
Written by Paparazzi with AI. Not financial advice.
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