U.S. stocks open down after stronger-than-forecast jobs report
U.S. stocks opened lower Friday as investors assessed a stronger-than-anticipated jobs report. The Dow Jones Industrial Average was down 0.4% soon after the opening bell, while the S&P 500 fell 1.1% and the Nasdaq Composite dropped 2%, according to FactSet data, at last check. The U.S. Bureau of Labor Statistics said Friday that 517,000 jobs were created in January while the unemployment rate was little changed at 3.4%. Economists polled by The Wall Street Journal had forecast 187,000 new jobs last month. Treasury yields jumped after the jobs report, with the yield on the two-year Treasury note up 14 basis points at 4.23% and 10-year yields rising 10 basis points to 3.5%, FactSet data show, at last check.
-Christine Idzelis
(END) Dow Jones Newswires
February 03, 2023 09:32 ET (14:32 GMT)
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