Blog

BREAKING NEWS: US economy adds 151,000 jobs in February while unemployment rate ticks up

LIVE Updated 3 mins ago

Stock market today: Dow, S&P 500, Nasdaq futures edge up after jobs report, with Powell on deck

Updated Fri, Mar 7, 2025, 8:46 AM 2 min read

In This Article:

NQ=F +0.42%
ES=F +0.21%
YM=F +0.05%

US stock futures ticked higher on Friday as Wall Street assessed the crucial monthly jobs report amid market uncertainty driven by President Donald Trump’s volatile trade policy. Dow Jones Industrial Average futures (YM=F) were up 0.1%, while S&P 500 futures (ES=F) gained 0.3%. Contracts on the tech-heavy Nasdaq (NQ=F) were up 0.5% after closing in correction territory on Thursday.

US nonfarm-payrolls added 151,000 jobs last month, slightly less than the 160,000 expected by economists, while the unemployment rate ticked up from 4% to 4.1%. The stakes were high for February’s job report later on Friday, as stocks flounder amid fears of weakening economic growth. Downbeat economic data has boosted bets on interest rate cuts this year. Markets are also looking to Chair Jerome Powell to throw some light on the Federal Reserve’s thinking on Trump’s tariffs and the risk of stagflation when he speaks on Friday morning. His comments will be among the last from Fed officials before their March 18-19 policy meeting.

Trade-war worries are still keeping markets on edge. Trump paused tariffs on most goods from Mexico and Canada until April, but the news didn’t provide any relief for stocks on Thursday. Canada responded with a matching delay in its second wave of retaliatory duties, while Mexico has yet to react. However, Mexico has begun reviewing its China tariffs, which could prove a win with Trump.

Meanwhile, bitcoin (BTC-USD) fell below $90,000, pulling back from this week’s rally after Trump authorized the creation of a strategic US bitcoin reserve ahead of his “crypto summit” on Friday.

On the earnings front, Broadcom’s stock (AVGO) jumped in premarket after the US chipmaker issued a strong second-quarter forecast, seen as a positive sign for AI demand.

LIVE 6 updates

13 mins ago

February jobs report: US labor market adds 151,000 jobs, unemployment rate ticks up to 4.1%

The US labor market added fewer jobs than forecast in February while the unemployment rate ticked higher amid increasing investor fears over the trajectory of the economy. Data from the Bureau of Labor Statistics released Friday showed 151,000 new jobs were created in February, less than the 160,000 expected by economists and higher than the 125,000 seen in January. The unemployment rate rose to 4.1% from 4% in the prior month. January’s monthly job gains were revised lower from a previous reading of 143,000.

59 mins ago

Walgreens stock pops as retailer nails its exit from market

Walgreens Boots Alliance (WBA) shares jumped almost 7% before the bell on news the drugstore giant is preparing to exit the public markets. The company has sealed its go-private deal with Sycamore, worth up to $23.7 billion, following months of negotiations with the PE firm.

Today at 12:45 PM UTC

It’s retailers’ turn to be ‘resilient’: Morning Brief

In recent weeks, retailers Walmart (WMT), Target (TGT), Best Buy (BBY), and, most recently, Abercrombie & Fitch (ANF) have spooked investors after they warned about profit pressures and price hikes resulting from tariffs.

Today at 12:01 PM UTC

Broadcom stock jumps as outlook eases AI worries

Shares of Broadcom (AVGO) rose over 11% in premarket trading, set for a rebound as investors welcomed the US chipmaker’s strong second-quarter sales forecast. The Apple supplier’s outlook helped revive some faith in Big Tech demand for AI chips after rival Marvell’s (MRVL) downbeat earnings helped drive losses among semiconductor stocks on Thursday. “Given the anxiety about AI conditions in general, these results should come as a relief,” Morgan Stanley analysts said, per Reuters.

Today at 9:51 AM UTC

Jobs report expected to show hiring uptick, unemployment steady

The February jobs report is expected to show hiring picked up in February, while the

Market Summary
Argus • Mar 07, 2025

Market Digest: DE, LH, RHHBY, VTR, CBOE, SNOW

Sector(s): Financial Services, Technology, Real Estate, Healthcare, Industrials

Download Full Report

Summary

U.S. stocks continued to decline on Thursday amid tariff and geopolitical concerns. Tech stocks experienced a downturn following Marvell’s report of disappointing sales. The Dow Jones Industrial Average fell by 1%. For access to premium research reports, detailed company profiles, and top-tier trade insights to elevate your portfolio, consider upgrading.

Asian stocks followed US equities lower as continual shifts in US President Donald Trump’s approach to tariffs on trade partners whipped up market uncertainty and dented confidence in the economic outlook.

Shares dropped from Sydney to Hong Kong with Japan’s Nikkei-225 Stock Average tumbling more than 2%. European equity-index futures dropped while contracts for the S&P 500 were little changed after declines on Wall Street. An index of the dollar fell for a fifth session, its longest losing streak in almost a year. Bitcoin slumped as details of a US strategic reserve underwhelmed.

Traders pointed to uncertainty over Trump’s tariffs. US stocks failed to stage a rebound even after a decision by Trump to delay levies on Mexican and Canadian goods covered by the North American trade deal, underscoring the fragile appetite for risk. Financial markets have whipsawed this week as investors deal with geopolitical uncertainty and conflicting signals from the US about the levies.

“Confusion reigns around the Trump Administration policy agenda,” said Chris Weston, head of research for Pepperstone Group. “While there are few signs of panic, funds and fast-money accounts cut equity risk.”

Wall Street strategists have been debating whether the Trump administration would be swayed on its tariff plans by a decline in equities. The thinking being that Trump will ditch policies if the stock market — which he touts as a report card — drops and rattles investors. Various firms even mapped out how much pain Trump could tolerate in the S&P 500 Index before retreating. That index level became known as “the Trump put,” in reference to a put option.

So far, Trump has given little indication he’ll change course. The president downplayed the reaction to the latest developments, saying “I’m not even looking at the market.” That followed his comments to Congress earlier this week that levies will cause “a little disturbance, but we’re OK with that. It won’t be much.”

European-equity index futures fell as much as 0.9% during Asian trading. Contracts for the S&P 500 pared gains late in the day after US chipmaker Broadcom Inc.’s upbeat revenue forecast had stoked optimism on artificial-intelligence. Broadcom shares jumped 13% in after-hours trading.

Treasuries were slightly higher Friday. The Mexican peso and the Canadian dollar rose on news of the potential tariff reprieve. On Thursday, Trump delayed levies on goods covered by the North American trade deal from the two countries until April 2. Later comments from Treasury Secretary Scott Bessent all but confirmed tariffs will be coming. Bessent rejected the idea that tariff hikes will ignite a new wave of inflation, and suggested that the Federal Reserve ought to view them as having a one-time impact.

European stocks have advanced almost 10% this year, as rate cuts and Germany’s plan to raise defense spending boost the market. Meanwhile, a gauge of Chinese stocks listed in Hong Kong has surged almost 23% so far this year on optimism over the nation’s artificial-intelligence adoption drive and expected stimulus from Beijing.

While the creation of the Bitcoin-specific reserve fulfills a promise Trump made on the campaign trail, the details fell short of industry expectations. Bitcoin dropped as much as 5.7% before paring some of the losses.

In Asia, China’s exports reached a record so far this year as higher US tariffs, and the threat of more to come, drove front-loading of shipments.

Investors will be focused on US nonfarm payrolls data on Friday, which may help traders identify the path ahead for interest rates. The report from the Bureau of Labor Statistics will provide an update about momentum in the labor market that’s been the key support — at least until January — of household spending and the economy.

Fed Chair Jerome Powell is slated to speak at a monetary policy forum Friday afternoon. Policymakers next meet March 18-19 and they’re expected to hold interest rates steady as they gauge the labor market and inflation trends as well as recent government policy shifts. Meanwhile, Fed Reserve Governor Christopher Waller said he wouldn’t support lowering interest rates in March, but sees room to cut two, or possibly three, times this year.

“If the labor market, everything, seems to be holding, then you can just kind of keep an eye on inflation,” Waller said Thursday at the Wall Street Journal CFO Network Summit. “If you think it’s moving back toward target, you can start lowering rates. I wouldn’t say at the next meeting, but could certainly see going forward.”

In commodities, oil was on track for the biggest weekly decline since October, while gold was set for a gain as traders sought havens.

Key events this week:

Eurozone GDP, Friday
US jobs report, Friday
Fed Chair Jerome Powell gives keynote speech at an event in New York hosted by University of Chicago Booth School

Stock market today: Dow, S&P 500, Nasdaq futures rise as shaken Wall Street awaits jobs report

US stock futures advanced as Wall Street prepared for the February jobs report amid market uncertainty caused by President Donald Trump’s volatile trade policy. Futures attached to the Dow Jones Industrial Average (YM=F) ticked up 0.2%. Futures attached to the benchmark S&P 500 (ES=F) climbed 0.3%, and futures attached to the tech-heavy Nasdaq Composite (NQ=F) jumped 0.5%.

Trump said he would pause tariffs on some goods from Mexico and Canada on Thursday, but the news didn’t stop stocks from tanking to session lows. Canada said it would delay a second wave of retaliatory tariffs in response, while Mexico has yet to reveal its reaction to the levies.

Aside from tariff turmoil, Wall Street has been racked with anxiety about faltering AI demand since Marvell (MRVL) issued a downbeat forecast that caused its stock to dive and dragged shares of other chipmakers, including Nvidia (NVDA), down with it. After the bell, traders got better news on the AI market. Broadcom (AVGO) earnings featured a strong second-quarter forecast and its shares soared. Nvidia and Marvell stabilized in after-hours trading.

February’s job report will bring the week to a crescendo on Friday. The data comes at a fragile moment for markets, but economists largely agree that it won’t confirm fears of slowing economic growth. The report is expected to show hiring picked up, while the employment rate held steady.

Trump establishes strategic bitcoin reserve

White House crypto czar David Sacks said in a post on X that U.S. President Donald Trump signed an executive order on Thursday to establish a strategic bitcoin reserve. The reserve will be initially funded with bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. The US government is estimated to own around 200,000 bitcoin, with a full audit of its holdings mandated.

Asian Stocks Fall Ahead of US Nonfarm Payroll Data: Markets Wrap

Asian equities experienced a decline on Friday, following a tumultuous session on Wall Street characterized by fluctuating stocks and tariff-related headlines. Shares in Australia and Japan dropped by over 1% at the market open, while Hong Kong’s equity index futures also slipped. The decline in Japanese benchmarks mirrored a decrease in risk sentiment and a rally in the yen observed on Thursday.

The S&P 500 and Nasdaq 100 indices saw significant drops, with the tech-heavy Nasdaq nearing a technical correction. However, US futures partially recovered from these losses early Friday, buoyed by Broadcom Inc.’s positive revenue forecast. The chipmaker’s reassurance about ongoing spending on artificial intelligence computing led to a 15% surge in its shares during after-market trading.

The volatile market sentiment was further exacerbated by President Donald Trump’s decision to delay tariffs on Mexican and Canadian goods, which failed to spark a rebound in US stocks. This uncertainty, coupled with the anticipation of nonfarm payrolls data, contributed to a cautious atmosphere on Wall Street.

“Right now, trade policy is dominating market action,” noted Chris Larkin at E*Trade from Morgan Stanley. “Until the tariff situation becomes clearer, it could continue to be a bumpy ride for traders and investors.”

The post-hours rally extended to other tech companies, including Nvidia Corp. and Marvell Technology Inc., which had suffered significant losses during the main trading session. Trump’s exemption of Mexican and Canadian goods from tariffs under the USMCA until April 2, along with Treasury Secretary Scott Bessent’s comments downplaying the inflationary impact of tariff hikes, provided some relief.

In Asia, Chinese Finance Minister Lan Fo’an highlighted the central government’s fiscal policy tools and space to address potential challenges. The People’s Bank of China reiterated its commitment to a moderately loose monetary policy, including interest rate cuts and reductions in the reserve requirement ratio for lenders.

Upcoming nonfarm payrolls data is expected to offer insights into the future path of interest rates, considering the impacts of geopolitics, tariffs on global growth, and inflation outlook. Fed Chair Jerome Powell is scheduled to speak at a monetary policy forum, and policymakers are expected to maintain interest rates steady at their next meeting on March 18-19.

In commodities, oil prices saw a marginal gain, with West Texas Intermediate futures settling above $66 a barrel. Bitcoin traded above $90,000, reflecting continued interest in cryptocurrencies.

Key market movements included a 0.3% rise in S&P 500 futures, a 1.3% drop in Hang Seng futures, and a 1.9% decline in Japan’s Topix. The Bloomberg Dollar Spot Index remained unchanged, while Bitcoin rose 0.2% to $90,006.96.

Corporate America is currently focused on tariffs, with mentions of tariffs on earnings calls skyrocketing. According to Bloomberg data, tariffs were mentioned 384 times on earnings conference calls over a three-month rolling period through March 5, significantly higher than the previous five-year average of 100 mentions. Sectors like Industrials and Consumer Discretionary are leading the mentions, but tariff talk has been seen across all 11 sectors of the S&P 500, suggesting a widespread impact on the US economy and the stock market.

President Trump has implemented 25% tariffs on Mexico and Canada, added 20% duties on China, and threatened tariffs on the European Union. He also ordered a 25% tariff on all imports of steel and aluminum into the US from all countries. Equity strategists warn that tariffs could be a headwind to earnings for the S&P 500 index this year. Citi equity strategist Drew Pettit estimates that Trump’s proposed tariffs could shave about $3 off the index’s earnings per share every three months the levies aren’t lifted.

On a company-specific level, tariffs have had a direct impact. For example, US automakers GM, Ford, and Stellantis rallied after the White House announced a one-month exemption on Mexico and Canada tariffs. Conversely, executives from Target, Best Buy, and Abercrombie & Fitch have warned that tariffs could materially impact their businesses. Best Buy CEO Corie Barry noted that around 55% of its products are sourced from China, and another 20% come from Mexico, making it highly likely that consumers will see a price impact from tariffs. Target CFO Jim Lee expects “outsized profit pressures” in the current quarter due to tariff uncertainty.

Tariffs have also affected economic data releases. The Institute for Supply Management’s manufacturing PMI was weaker than expected in February, with the prices paid index surging to 62.4, its highest level since July 2022. Institute for Supply Management chair Timothy Fiore attributed the price increases to the tariff issue, which could lead to lower new orders from businesses and impact hiring plans.

Tech company Corning partners with U.S. solar manufacturers to produce all-American solar panel

Corning, a leading technology company, has announced a partnership with U.S. solar manufacturers Suniva and Heliene to create the only solar panel made entirely from American-made components. This collaboration marks a significant step towards establishing a competitive U.S. solar manufacturing sector.

The alliance involves Georgia-based Suniva, which manufactures solar cells, and Heliene, a Canadian company that produces solar panels in Minnesota. Corning and its subsidiary Hemlock Semiconductor, which produce silicon wafers and polysilicon in Michigan, will supply the raw materials.

“Corning is excited to leverage our advanced manufacturing expertise to deliver top-quality solar components and secure the U.S. energy supply chain,” said AB Ghosh, Corning’s vice president and general manager of solar technologies and CEO of Hemlock Semiconductor.

The growth of U.S. solar manufacturing capacity has been bolstered by tax credits included in the 2022 Inflation Reduction Act. Despite a shift in national energy policy under President Donald Trump towards maximizing oil and gas production, clean energy companies argue that their initiatives align with the goal of boosting domestic energy resources and creating American jobs.

The new solar module boasts up to 66% domestic content, the highest on the market, allowing developers to qualify for a 10% bonus domestic content tax credit in addition to the 30% base tax credit for clean energy projects under the Inflation Reduction Act.

BP CEO Murray Auchincloss’s compensation package decreased to 5.4 million pounds ($6.95 million) in 2024, down from 8 million pounds in 2023, according to the company’s annual report. The reduction comes as BP reported a 35% decline in profits for the year, totaling $8.9 billion, and faces pressure from activist investor Elliott Investment Management to bolster its oil and gas operations. The company has scaled back several ambitious renewable energy and emissions-cutting targets set since 2020 and abandoned plans to reduce oil and gas output by a quarter by 2030. Over the past five years, BP’s shares have underperformed compared to its main European and U.S. rivals, remaining virtually flat while Exxon Mobil and Shell shares have increased by approximately 110% and 49%, respectively.

Cathie Wood’s Bold Move: 8 Straight Days Of Buying Beam Therapeutics As Stock Soars 14%

Cathie Wood is back in the spotlight, and so is her flagship ARK Innovation ETF (NYSE:ARKK). After a rough year, the fund is showing signs of life—but is this the start of a real comeback, or just another short-lived rally? Investors are split, and the numbers tell an interesting story.

ARKK’s Rebound, Skeptics, and the High-Stakes Bet on Innovation

So far this year, ARKK is up 6%—a solid lead over the S&P 500’s 2% gain and the Nasdaq’s 1% increase. That’s a welcome shift after 2024, when ARKK returned 12%—not bad, but nowhere near the S&P 500’s 24% surge.

Looking at the bigger picture, ARKK’s longer-term numbers tell a more complicated story. Over the past three years, its annualized return is -5.89%, and its five-year return barely hits 1.03%. By comparison, the S&P 500 has delivered 13.14% and 14.27% over the same periods. That’s why some investors are still wary—last year, ARKK saw nearly $3 billion in outflows, as Finance reports.

Michael Burry, best known for predicting the 2008 financial crisis, has been one of ARKK’s loudest critics. He argues that many of its holdings burn through cash at unsustainable rates, and at one point, he even shorted the fund. Burry sees ARKK as too dependent on speculative growth stocks with shaky profitability.

Morningstar analyst Robby Greengold has also been skeptical of ARK Invest. Greengold downgraded the ARK Innovation ETF to a negative rating, citing concerns over risk management and portfolio concentration. He believes the firm lacks structured risk management and relies too much on aggressive forecasting. The strategist outlines his concerns, pointing out that while Wood’s strategy is bold, it also lacks a benchmarking strategy.

But Wood isn’t backing down. She believes that regulatory rollbacks and technological advancements will fuel long-term innovation, and she’s sticking to her guns. On Feb. 20, ARK Invest bought another 170,778 shares of Beam Therapeutics Inc. (NASDAQ:BEAM), a move that reinforces her faith in genomics and precision medicine.

ARK now holds nearly 7.7 million shares of Beam, making up 8.54% of the company’s outstanding stock. That investment places Beam as ARK’s 20th largest position, per MarketBeat.

Not everyone is convinced. Short-sellers warn that biotech companies like Beam face steep financial challenges. Jim Chanos, known for spotting overvalued stocks, believes ARK often gets caught up in hype without clear paths to profitability. While ARK supports disruptive innovation, Chanos said many of these companies are valued based on hype rather than fundamentals, making them risky long-term bets.

BEAM THERAPEUTICS (BEAM): Free Stock Analysis Report

This article originally appeared on Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

View Comments

Terms and Privacy Policy

Your Privacy Choices

More Info

Recommended Stories

Retail giant Best Buy has announced better-than-expected earnings for the latest quarter, showcasing robust performance amidst a challenging economic environment. Despite surpassing analyst expectations, the company’s stock experienced a decline following the earnings report, primarily driven by investor concerns over the potential impact of tariffs on future profitability.

The earnings report highlighted strong sales growth across various product categories, with particular strength in electronics and appliances. Best Buy’s strategic initiatives, including enhanced online offerings and in-store experiences, contributed to the positive financial results.

However, the market’s reaction was tempered by uncertainties surrounding trade tensions and the imposition of tariffs on imported goods. Investors expressed apprehension about the potential ripple effects on Best Buy’s supply chain and overall cost structure, leading to a sell-off in the company’s stock despite the favorable earnings announcement.

As trade negotiations continue to unfold, Best Buy and other retailers face ongoing challenges in navigating the complex landscape of global trade policies. The company remains committed to adapting its strategies to mitigate risks and capitalize on opportunities in an ever-evolving market environment.