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Wall Street ends lower as job numbers miss expectations
US stocks finished lower this Friday after August's job numbers missed the mark—just 22,000 new jobs were added, way below the expected 75,000.
Hopes for a boost from possible Fed rate cuts increased, as traders bet on imminent easing following the weak jobs report, and bank stocks took a hit with the S&P 500 bank index down 2.4%.
Broadcom's stock jumps nearly 9.4%
While most of the market struggled, Broadcom's stock jumped nearly 9.4% thanks to upbeat AI revenue forecasts.
The Dow dropped by 220 points, but S&P 500 and Nasdaq managed small weekly gains.
Now, everyone's watching upcoming inflation data for clues on what the Federal Reserve might do next with interest rates.