US Stocks Inch Down
2026-09-04 13:34
By
Andre Joaquim
1 min. read
US stocks inched down on Friday, trimming last session's rebound after evidence of a strong labor market added leeway for the Federal Reserve to raise interest rates to combat inflation.
Contracts for the S&P 500, Dow, and Nasdaq 100 edged below the flatline.
Nonfarm payrolls surged by 162 thousand from the previous month, well above expectations of a little over 50 thousand jobs, aligned with statements from FOMC members that the labor market is under full employment.
Credit-sensitive sectors pulled back after the data as yields rebounded, with Microsoft, Tesla, and Mastercard dropping nearly 1%.
Still, chip producers rose after underperforming this week, with Lam Research, Applied Materials, and Sandisk adding close to 2%.
On top of that, Marvell, Micron, Intel, and Nvidia jumped over 1% amid sings of optimism around OpenAI's new GPT model.