The major indexes dipped as the day went on, even after a "Goldilocks" jobs report.
 | FRI, SEP 02, 2022 | | | |
| DOW | | NAME | LAST | CHG | %CHG | | AAPL | 155.81 | -2.15 | -1.36% | | INTC | 31.22 | -0.54 | -1.70% | | MSFT | 256.06 | -4.34 | -1.67% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 80.24 | -2.09 | -2.54% | | AAPL | 155.81 | -2.15 | -1.36% | | NVDA | 136.47 | -2.90 | -2.08% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 80.24 | -2.09 | -2.54% | | AAPL | 155.81 | -2.15 | -1.36% | | NVDA | 136.47 | -2.90 | -2.08% | |
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Stocks tumbled Friday afternoon to end a third straight week of losses for the three major averages after a brief rally on the August jobs report failed to hold. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all erased big morning gains and finished lower. For the Nasdaq, the declines led the index to post a six-day losing streak. Stocks climbed in the first half of the day, after the August jobs data. Many are calling it a "Goldilocks" report – not too hot, not too cold, just as expected. At first, it seemed to ease investors' fears that a hot labor market could lead to more aggressive action from the Federal Reserve. |
That upbeat sentiment soured by the afternoon. Still, several investors noted that there isn't much in the way of panic at the moment. The Cboe Volatility Index, or VIX, the stock market's so-called "fear index," is at about 25. Plus, trading volume is thin heading into a holiday weekend. The S&P 500's close was its lowest since July, and several investors see 3,900 as a key level to watch. Even those who believe the lows of the cycle were posted in June see those thresholds being retested if the S&P fails to hold 3,900. |
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