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

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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:

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