The Dow Jones Industrial Average saw an increase on Friday despite a disappointing jobs report for August. One notable stock that took a hit on the market was Broadcom, a company that both competes with and collaborates with Nvidia.
After the opening bell, the major indices showed mixed movements with the Dow Jones up 0.4%, S&P 500 up 0.1%, and the Nasdaq down 0.4%. The 10-year Treasury yield dipped slightly to 3.73%, while oil prices rose.
Broadcom’s downward plunge was due to its guidance falling short of expectations, even though it beat Wall Street targets. The company works closely with Nvidia in the artificial intelligence space.
In other market news, Samsara was a significant gainer with a 10% jump in early trading. The U.S. economy added 142,000 jobs in August, falling short of expectations.
Among the best stocks to watch are Arista Networks, Costco Wholesale, Meta Platforms, Netflix, and Taiwan Semiconductor Manufacturing. Amazon, Apple, Home Depot, IBM, and Microsoft were also cited as companies to keep an eye on.
Overall, the market showed mixed movements and traders should stay vigilant and adapt to changing market conditions. By analyzing different indices and individual stock movements, investors can make more informed decisions in today’s market environment.
