US STOCKS-Wall Street ends lower as blowout job data spooks traders
4 days, 6 hours ago

US STOCKS-Wall Street ends lower as blowout job data spooks traders

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* December US job growth beats expectations * Walgreens set for best day since 1980 after Q1 profit beat * Constellation Brands slides after trimming FY forecasts * University of Michigan survey showed consumer sentiment dropped * Indexes off: Dow 1.63%, S&P 1.54% and Nasdaq 1.63% By Johann M Cherian, Sukriti Gupta and Carolina Mandl Jan 10 - U.S. stocks sold off on Friday, with the S&P 500 erasing its 2025 gains, after an upbeat jobs report stoked fresh inflation fears, reinforcing bets that the Federal Reserve will be cautious in cutting interest rates this year. The Dow Jones Industrial Average fell 696.75 points, or 1.63%, to 41,938.45, the S&P 500 lost 91.21 points, or 1.54%, to 5,827.04 and the Nasdaq Composite lost 317.25 points, or 1.63%, to 19,161.63. A Labor Department report showed job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labor market ended the year on a strong note. Constellation Energy soared 25.16% after agreeing to buy privately held natural gas and geothermal company Calpine Corp for $16.4 billion, while Constellation Brands slid 17.09% after cutting its annual sales and profit forecasts.

History of this topic

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