The New York Dow Jones Stock Exchange index closed lower on Friday (March 8), while the S&P 500 and Nasdaq closed lower after reaching record highs during the day. The chip stocks fell amid profit-taking pressure. Meanwhile, labor market data releases show that new jobs in the US rose more than expected.
The Dow Jones Industrial Average closed at 38,722.69 points, down 68.66 points or -0.18%, the S&P500 index closed at 5,123.69 points, down 33.67 points or -0.65%, and the NASDAQ index closed at 16,085.181 points, or down 6,085.181 points, 6 -181% down. .
In this week the Dow Jones Industrial Average was down 0.93%, the S&P 500 was down 0.26% and the Nasdaq was down 1.17%.
The S&P500 and Nasdaq indexes fell on Friday. after reaching an all-time high during the day. Philadelphia’s semiconductor stock index closed up 4% after hitting an all-time intraday high.
Indian stocks The artificial intelligence (AI) chip maker closed up 5.6% after rising more than 5% in morning trade. and after closing continuously positive for 6 days
Broadcom shares fell 7% after forecast full-year earnings fell short of investor expectations. And Marvell Technology shares fell 11.4% after forecast first-quarter results fell short of market expectations. due to weak demand
in the morning The US stock market opened positively after the US Department of Labor released data indicating that US non-farm employment rose more than expected by 275,000 jobs in February. This is 200,000 more than the expected increase in jobs.
The unemployment rate rose to 3.9% in February after remaining stable at 3.7% for three consecutive months. Meanwhile, the rate of wage growth slowed to 0.1% monthly.
One analyst said: The market is facing profit-taking pressure after a recent surge.
Among the 11 sectors of the S&P 500 index, technology stocks were the biggest losers, down 1.8%, followed by consumer staples, down 0.8%.
Real estate stocks rose the most, 1.1%, followed by the energy sector, which gained 0.4%.
Shares of clothing retailer gap closed up 8.2%, bucking the market after revealing better-than-expected 4th quarter 2023 results.
next week Investors will be keeping an eye on the release of key US economic data for February, such as the Consumer Price Index (CPI) and retail sales. Find signs that show the trend of interest rate cuts
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