The stock market faced uncertainty on Friday as Dow Jones futures and other major indexes saw a decline after the release of a stronger-than-expected December jobs report. In addition, shares of artificial intelligence leader Palantir Technologies (AI) tumbled following a stock analyst’s downgrade.
Before the opening bell, Dow Jones futures were down 0.25% compared to fair value, while S&P 500 futures and Nasdaq 100 futures also saw losses. Exchange-traded funds like Invesco QQQ Trust (QQQ) and SPDR S&P 500 ETF (SPY) were down as well.
The jobs report showed a significant increase of 216,000 jobs in December, surpassing expectations and surpassing the previous month’s increase. However, the report also revealed revised numbers for October and November, which were lower than previously reported. The unemployment rate remained unchanged at 3.7%.
Despite the positive jobs report, market sentiment seemed to be cautious as stocks faced downward pressure. This marks a potential disruption to the ongoing winning streak for major indexes, including the S&P 500 and Nasdaq.
In addition to the broader market decline, Palantir shares sank over 4% due to a downgrade by Jefferies analyst Brent Thill. The downgrade was based on concerns about the company’s commercial and government businesses and its potential impact on future growth.
Looking ahead, market analysts suggest that the stock market may face increased volatility in the coming months. With uncertainties surrounding global economic conditions and geopolitical issues, investors are advised to carefully monitor market trends and adjust their investment strategies accordingly.
As always, it is important for investors to conduct thorough research and analysis before making any investment decisions. Staying informed about the latest market developments will be crucial in navigating the stock market in 2024.
The source of the article is from the blog girabetim.com.br