US Stocks Mixed at Open; Nasdaq Gains 0.5% as Jobs Data Tops Forecast
What Happened
Wall Street opened mixed after the US economy added 162,000 jobs in August, well above expectations. The tech-heavy Nasdaq outperformed, with the Nasdaq-100 ETF (QQQ) up 0.5%, while the S&P 500 ETF slipped 0.15% and the Dow-linked ETF fell 0.43% as investors reassessed the outlook for Federal Reserve interest rates.
Key Takeaways
Stronger-than-expected employment data has revived concerns that the Fed could keep rates higher for longer. Tech and AI shares led gains, while broader market sentiment remained cautious ahead of next week's inflation data.