(Reuters) – The New York Stock Exchange opened lower on Friday under pressure from high yields after the release of the U.S. Labor Department’s monthly employment report.
In early trading, the Dow Jones index lost 94.9 points, or 0.22%, to 42,540.29 points and the broader Standard & Poor’s 500 fell 0.66% to 5,879.26 points.
The Nasdaq Composite lost 0.86%, or 166.6 points, to 19,312.61 points.
The monthly jobs report showed that the US economy created 256,000 jobs in December, well above the 160,000 creations expected by analysts.
This figure restarted the rise in bond yields and the dollar, pushing investors to lower their expectations for key rates from the Federal Reserve in 2025.
They now believe that the US central bank will wait until June to make a further reduction and will abstain thereafter, while they previously expected a first reduction in May, potentially followed by a second reduction before the end of the ‘year.
On the value side, Delta Air Lines gained 5.2% after declaring on Friday that it expects 2025 to be the most profitable year in its history, thanks to strong demand for its “premium” tickets and improving prices. pricing power of the sector.
In its wake, other airlines are climbing: American Airlines, United Airlines and Alaska Air each gain between 2% and 3.3%.
Nvidia lost 3.4% after press reports that the Biden administration could impose new restrictions on exports of chips used for artificial intelligence.
(Written by Pauline Foret, with Mara Vilcu, edited by Kate Entringer)
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