Friday kicked off with disappointing news as just 210,000 jobs were added last month, much lower than expected. Stocks initially opened higher before dipping into the red.
Investors were clearly hoping for better jobs numbers. After all, the Dow enjoyed its biggest point jump of the year on Thursday.The Dow rose nearly 150 points shortly after the open but was down more than 200 points, or 0.6%, in late-morning trading. The S&P 500 gave up earlier gains too and was down 1.2%. Tech stocks really took it on the chin. The Nasdaq fell 2.1% after opening in green.The weaker jobs gains could mean the Federal Reserve will keep propping up the economy.
Omicron and the Fed might finally kill this bull marketStocks are still down a bit for the week. They've been whipsawed on the news earlier this week that Omicron cases have arrived in the US. "There is still significant investor apprehension," said David Jilek, chief investment strategist at Gateway Investment Advisers."The market is more susceptible to volatility.
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