U.S. stocks fall after blowout jobs report, disappointing earnings, but Nasdaq books longest weekly win streak since November 2021

U.S. stocks end down Friday, after a much stronger-than-expected rise in January nonfarm payrolls and disappointing tech earnings. Read More...


Jobs report jolts Wall Street bulls as inflation fears return

Much stronger-than-expected U.S. job growth stopped early-year rallies in stocks and bonds dead in their tracks on Friday, forcing Wall Street to recalibrate expectations for how much more hawkish the Federal Reserve will need to be in its fight against inflation. An unexpectedly dovish message from Fed Chair Jerome Powell earlier this week had emboldened investors looking for evidence of the so-called “soft landing” scenario that has fueled a market rally this year, in which the central bank can tame inflation without causing a recession. But Friday’s data, which showed U.S. employment growth accelerating sharply in January, renewed the inflation concerns that hammered stocks and bonds last year, reinforcing some investors’ belief that the twin gains in both asset classes may have gotten ahead of themselves.

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