The US job market has shown signs of strain, with unemployment figures rising and job growth slowing down. But is this a precursor to a larger economic downturn, or just a temporary blip in the radar? Let's dive into the numbers and the sentiment to uncover the story behind the statistics.
Investors flocked back to the tech behemoths that had triggered a sell-off earlier in the week, propelling Wall Street's major indexes to a higher close on Friday. The Dow Jones Industrial Average surged more than 1.6%, while both the S&P 500 and NASDAQ ended just above 1%. Amid this resurgence, five of the so-called Magnificent Seven stocks rose, with Meta Platforms leading the pack with a gain of over 22%. However, Tesla and Alphabet, whose lackluster earnings had sparked Wednesday's market rout, remained the outliers.