LIVE MARKETS-Wall Street climbs after soft jobs data; Nasdaq eyes record close 

By Reuters News

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WALL STREET CLIMBS AFTER SOFT JOBS DATA; NASDAQ EYES RECORD CLOSE

Wall Street's main indexes are higher early Friday after a softer-than-expected jobs report strengthened the case for the Fed to leave rates unchanged this month. Falling Treasury yields and a sharp drop in oil prices are also helping support risk appetite.

With the move, the Nasdaq Composite .IXIC is on track for a record closing high.

The jobs data prompted a pullback in Treasury yields. The benchmark 10-year Treasury yield has dipped to around 5.21%, after touching 5.345% on Thursday, its highest level since 2002. Even so, a close above 5.181% would mark its fifth consecutive weekly advance. For context, the yield posted a seven-week winning streak heading into early November 2024.

Most S&P 500 .SPX sectors are trading higher. Consumer discretionary .SPLRCD, tech .SPLRCT, and materials .SPLRCM, all up more than 1.5%, are the strongest performers. Tech is on pace for a record close.

Just energy .SPNY and healthcare .SPXHC are lower. NYMEX crude futures are down more than 4%, weighing on energy shares.

Under the surface, gold and silver miners .XAU and semiconductor stocks .SOX are posting solid gains.

Among other major indexes, the Nasdaq 100 .NDX and the S&P 500 Growth Index .IGX are also on track for record closing highs. AI heavyweight Nvidia NVDA.O is likewise poised to finish at a record close.

Here is a snapshot of where markets stood around 10:05 a.m. EDT.

(Terence Gabriel)

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EARLIER ON LIVE MARKETS:

S&P 500 FUTURES ADD TO GAINS, YIELDS DROP AFTER JOBS DATA CLICK HERE

BUND BTP SPREAD TO GO BACK TO 150 BPS, SAYS UBS CLICK HERE

FRENCH IG CREDIT SHRUGS OFF OAT DRAMA, FINANCIALS TAKE HIT CLICK HERE

CALM TILL PAYROLLS, PERHAPS CLICK HERE

BEFORE THE BELL: EUROPE CALMER, BUT FRAGILE CLICK HERE

MORNING BID: CAN TREASURIES RALLY FOR A SECOND DAY? CLICK HERE


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