Equities ended the trading day marginally down on Friday, having reached record highs earlier in the session, subsequent to the publication of labor market statistics that bolstered anticipations of an interest rate reduction by the Federal Reserve this month. The Dow Jones Industrial Average declined by 0.5%, the S&P 500 experienced a decrease of 0.3%, and the tech-heavy Nasdaq Composite ended the day slightly lower. The S&P 500 and the Nasdaq recorded slight increases over the week, whereas the Dow experienced a minor decline for the second week in a row. Equities were concluding a positive trading session on Thursday as market participants prepared for the forthcoming employment figures. The monthly employment report from the Bureau of Labor Statistics indicated that U.S. employers added a mere 22,000 jobs last month, significantly underperforming the anticipated 75,000, while the unemployment rate ticked up to 4.3%. Although the employment figures fell short of expectations, potentially raising apprehensions regarding economic stability, this development reinforces the expectation that the Federal Reserve is poised to lower its benchmark interest rate for the first time in 2025. Federal Reserve Chair Jerome Powell indicated last month that prevailing economic conditions may justify a reduction in interest rates at the upcoming policy committee meeting scheduled for September 17.

The yield on the 10-year Treasury, a critical factor influencing borrowing costs across various loan types, particularly mortgages, stood at 4.08% in late trading, a decrease from 4.18% at the previous day’s close. The yield declined to a low of 4.06% on Friday, marking its lowest point since early April, when apprehensions regarding the economic repercussions of tariffs caused significant market turmoil. Shares of Broadcom surged more than 9% today after the chip giant reported better-than-expected quarterly results amid booming demand for its AI offerings. The company also reported last night the acquisition of a new multibillion-dollar customer, which sources indicate is OpenAI. Tesla shares gained 3.6% after the company unveiled a pay package plan for CEO Elon Musk that sets ambitious performance targets over the next decade and could boost his overall compensation to $1 trillion.

On Friday, the performance of other mega-cap technology stocks exhibited a mixed trend. Shares of AI investor favorite and Broadcom rival Nvidia dropped nearly 3%, as did those of Microsoft, while Amazon declined more than 1%, and Apple ticked lower. Alphabet tacked on 1% and Meta Platforms added 0.5%. A variety of semiconductor equities experienced significant fluctuations today. Advanced Micro Devices experienced a decline of approximately 6.5%, whereas Micron saw an increase of nearly 6%. The PHLX Semiconductor Index advanced by 1.7%. Among other noteworthy movers, shares of Lululemon Athletica tumbled nearly 19% to lead S&P 500 decliners after a weak earnings report. Shares of Tylenol maker Kenvue dropped 9% following a report indicating that Health Secretary Robert Kennedy is set to publish findings that associate the use of the pain medication during pregnancy with autism.

Bitcoin was observed at $110,800 in late-afternoon trading, a decline from its earlier peak of $113,300. The cryptocurrency has faced significant downward pressure in recent weeks following its peak of over $124,000 in mid-August. The U.S. dollar index, which monitors the performance of the U.S. dollar relative to a selection of foreign currencies, declined by 0.6% to 97.74. Gold prices, having declined on Thursday following a three-day streak of record highs, have resumed their upward trajectory today. Gold futures increased by 0.9% to approximately $3,640 per ounce, following a new record high of $3,655 reached during today’s trading session. West Texas Intermediate futures, the U.S. crude oil benchmark, experienced a decline of 2.4%, settling at $61.95 per barrel. This marks the third consecutive day of decrease, with prices reaching their lowest levels in three months.