US stocks fell on Friday, with the S&P 500 down 07%, the Dow Jones down about 230 points and the Nasdaq down 1%, after a better-than-expected jobs report underscored the resilience of the US labor market, reinforcing the Federal Reserve's cautious approach to further interest rate cuts.
The US economy unexpectedly added 256,000 jobs in December, well above the 160,000 forecast, and the unemployment rate unexpectedly fell to 4.1% from 4.2% while wage growth slowed to 0.3% as expected.
Traders expect the Fed to leave the federal funds rate steady through the second half of the year. Technology, real estate and financials were among the worst-performing sectors, while energy outperformed.
In the corporate sector, Delta Air Lines shares jumped 8% after its earnings and revenue beat estimates and its CEO predicted 2025 would be "the best financial year in the history of our airline."
Also, Walgreens Boots Alliance jumped 21% as its profit beat estimates and the company maintained its guidance.
Source: Trading Economics
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