US stock markets moved higher in volatile trading as investors digested the latest jobs report and looked ahead to Federal Reserve Chair Jerome Powell’s speech later today.
The Dow Jones Industrial Average dipped 0.1%, while the benchmark S&P 500 rose 0.3%, and the Nasdaq Composite edged up 0.1%.
Energy stocks led the S&P 500’s sectoral gains, climbing 1.8%, as oil prices rebounded by 2% after a tough week.
Investors are awaiting Powell’s remarks, which may provide insight into the Federal Reserve’s stance on interest rates, particularly in response to economic uncertainty stemming from US tariff policies.
Broadcom shares surged 7% after the semiconductor giant reassured investors about continued demand for artificial intelligence infrastructure, issuing a strong second-quarter forecast.
Meanwhile, fresh employment data showed that job growth accelerated in February compared to the previous month, though it fell short of economists’ expectations, raising concerns about the economy’s resilience.
“This is not an overly weak report, nor is it overly strong,” said Peter Cardillo, chief market economist at Spartan Capital Securities. “It aligns with the average job creation levels of recent months, suggesting the economy remains somewhat resilient despite ongoing challenges.”
