Growth stocks lag heading toward closing bell Friday
Value stocks are faring better than growth equities in Friday's slump, in a choppy trading session following a stronger-than-forecast jobs report and a jump in Treasury yields. The Russell 1000 Value index was off 0.9% in late afternoon trading, while the Russell 1000 Growth index dropped 1.4%, according to FactSet data, at last check. Meanwhile, the yield on the 10-year Treasury note increased 13.5 basis points to 3.531% Friday, its biggest daily rise since Oct. 5 based on 3 p.m. Eastern time levels, according to Dow Jones Market Data. U.S. stocks were down heading toward the closing bell Friday, with losses led by the technology-laden Nasdaq Composite. The Dow Jones Industrial Average was down 0.6%, while the S&P 500 fell 1.2% and the Nasdaq dropped 1.7%, FactSet show, at last check.
(END) Dow Jones Newswires
February 03, 2023 15:58 ET (20:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.