US stocks fluctuated between modest gains and losses on Friday after February’s jobs report suggested slight signs of softness in the labor market.
US stocks swing to end the week down
The US economy added 151,000 jobs, falling slightly short of the forecasted 160,000, and the unemployment rate unexpectedly ticked up to 4.1%. Additionally, federal government employment dropped by just 10,000, with the full impact of the recent DOGE layoffs still to be fully reflected. The three major indices are set to experience their worst week since September, as ongoing uncertainty surrounding tariffs continues to weigh heavily on investor sentiment and stoke concerns about the broader US economic outlook.
Tariffs update
In a move to ease tensions, President Trump announced the suspension of all tariffs on goods covered by the North American trade agreement until April 2, providing some relief to markets. On the earnings front, Broadcom saw a notable boost, rising more than 5% after issuing a strong outlook, while Costco saw a decline of more than 4% following an earnings miss that failed to meet analysts' expectations. These mixed results contributed to a volatile trading day, highlighting the continued uncertainty in both economic and corporate performance.
