Mixed Market Signals as Jobs Data Sways Wall Street

Wall Street's main indexes fell as new jobs data suggested a cautious Federal Reserve, causing unease among investors. The U.S. added 143,000 jobs in January, below expectations, while consumer sentiment also dipped unexpectedly. Stocks were further impacted by sector-specific movements in large companies like Amazon and Microchip Technology.

Wall Street's key indexes saw a decline on Friday, with fresh jobs data sparking concerns over the Federal Reserve's approach, potentially tempering economic optimism. The U.S. economy's addition of 143,000 jobs in January fell short of economists' expectations, while consumer sentiment indices painted a surprisingly negative picture.

At 10:06 a.m. ET, key metrics showed the Dow Jones dipping by 70.38 points, closing at 44,677.25; the S&P 500 decreased by 11.84 points, finishing at 6,071.73; and the Nasdaq Composite faced a downturn of 108.18 points, settling at 19,683.82. The consumer discretionary sector led the losses, driven by significant dips in Amazon due to weakened performance predictions for its cloud unit.

While more than three-quarters of reporting S&P 500 companies have exceeded earnings expectations, various stocks like Microchip Technology and Elf Beauty experienced notable downturns, highlighting sector volatility. Despite the mixed indicators, there's a broader sense of optimism around potential trade resolutions and overall economic performance for the period.

(With inputs from agencies.)