Stocks fall on strong jobs report
Yahoo Finance Live’s Brad Smith breaks down how stocks are trading following the release of January jobs report.
BRIAN SOZZI: Welcome back to "Yahoo Finance Live" on this jobs report Friday. I'm Brian Sozzi here with Julie Hyman and Brad Smith.
Markets slammed as investors digest turbocharged jobs numbers with a whopping 517,000 increase in jobs for January. Brad, let's get over to right now. We're seeing stocks off the lows of the session off this strong print. But still, stocks are still down.
BRAD SMITH: Yeah, let me show you what a slammed market looks like here on the day. Dow Jones Industrial Average right now lower by about 4/10 of a percent. So just off of our session lows there but still down on the day. The NASDAQ Composite, you're seeing that lower by about 1% here. S&P 500, that's lower by about 3/4 of a percent here.
And so just to put this in context in the move that we've seen over the course of this week, still net higher there. I'll put this on line chart for you for the folks that don't like candle sticks out there. But anyway, net higher over the past four days by about 3.3%. We'll see exactly where we end and, perhaps, can hold on to-- I would hope at this level, can hold on to these gains for the weeks that we have for the week that we have seen.
But also taking a look at some of the other major areas that investors might be keeping their eye on today. And I want to go on over to the NASDAQ Composite because that will give us a look at some of those mega-cap tech stocks that have reported over the course of this week. Where you had Amazon and Apple, as well as Alphabet or Google, reporting last night.
All of those companies in focus right now. Amazon and Google lower. Amazon, you've got deep red there, down by about 5.4%. Apple holding onto gains, actually, right now, which is an interesting move considering the move lower that we saw on the reaction to earnings yesterday evening.
It had actually moved lower by about 5% at one point. And then started to pare some of those losses after the leadership team started to speak about the international opportunities, namely India and some of the conversions that they've seen there in iPhone, as well as in China, as well, and the opportunity there. So that's up right now by about 2 and 1/2 percent. And Then just lastly here, Alphabet. You're seeing that lower by about 2.8%. Google, Alphabet, Alpha-Google, whatever.