Stock Market Today: Stocks mixed after steady February jobs report
The S&P 500 is on pace for its worst week since September.
U.S. equity futures edged lower in early Friday trading, while the dollar extended its steepest weekly decline of the year, as investors parsed a key reading of the labor market amid the ongoing confusion tied to President Donald Trump's tariff strategy.
Updated at 9:35 AM EST
Mixed open
The S&P 500 was marked 4 points, or 0.04% lower in the opening minutes of trading, with the Nasdaq up 6 points, or 0.05%.
The Dow slipped 40 points while the mid-cap Russell 2000 index fell 5 points, or 0.18%.
"Friday's jobs report may change the calculus for the Federal Reserve's plans on interest rates this year, and it's possible that we see the next rate cut come as soon as June," said Glen Smith, chief investment officer, GDS Wealth Management.
"Fed Chair Jerome Powell is speaking this afternoon, and investors will be looking for his reaction to the recent round of economic data and the market's broader tariff fears," he added. "The stock market is moving in lockstep with tariff headlines, and that is likely to keep volatility very elevated for the foreseeable future, as the market does not like uncertainty."
S&P 500 Opening Bell Heatmap (Mar. 07, 2025)$SPY -0.30%
