The stock market rose Friday, with the Dow Jones Industrial Average climbing after a positive jobs report showed an unexpected increase in the unemployment rate. Nvidia and Super Micro Computer also surged to new highs on the market.
The morning’s action saw the Dow Jones Industrial Average rise by 0.2%, with the S&P 500 gaining 0.6% and the Nasdaq composite moving up by 1%. Among the funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF was up by 1%, while the SPDR S&P 500 ETF rose by 0.6%. Oil prices paused after two days of gains.
Nvidia and Super Micro both rallied after the market open, with Nvidia stock jumping 5% and Super Micro climbing by 5.5%. Broadcom and Costco were among the companies reporting earnings, with Broadcom shares declining and Costco stock falling more than 5%. Marvell and MongoDB also saw declines, while Samsara stock soared.
The Labor Department reported an increase of 275,000 jobs in February, higher than expected, with the unemployment rate rising to 3.9%. Key earnings reports included companies like Broadcom, Costco, Marvell, MongoDB, and Samsara. Disney, IBM, and Procter & Gamble were among the best stocks to buy and watch in the market.
Disney, IBM, and Procter & Gamble saw movements in their stock prices, with Disney attempting a breakout and IBM stock rallying. Duolingo, Fifth Third Bancorp, and Fortinet were also top stocks to watch. Tesla fell in morning trading but rose the previous day. Apple and Microsoft traded mixed after the market open.
