Shares of all the Magnificent 7 biggest technology stocks traded lower in premarket trading Friday in the wake of the stronger-than-expected September jobs data, compared with just two down stocks pre-data. The strong jobs data seemed to dash hopes that the Federal Reserve might soon end its policy of interest rate hikes, which has weighted on equity valuations. Shares of Apple Inc.
AAPL
dropped 0.8% after being up 0.3% pre-data; of Microsoft Corp.
MSFT
fell 0.9% to reverse a pre-data gain of 0.3%; of Alphabet Inc.
GOOGL
shed 1.2% after being little changed; of Amazon.com Inc.
AMZN
lost 1.9% vs. a pre-data gain of 0.4%; of Meta Platforms Inc.
META
slid 1.2%, but was little changed pre-data; of Tesla Inc.
TSLA
dropped 2.8%, to extend its pre-data loss of 1.3%; and the loss in Nvidia Corp.’s stock
NVDA
increased to 1.3% from 0.2% pre-data. Meanwhile, the SPDR S&P 500 ETF
SPY
was down 0.8% post-data after being up 0.1% pre-data, while the Invesco QQQ ETF
QQQ,
which tracks the Nasdaq 100
NDX,
reversed to a loss of 1.1% from a gain of 0.1%.
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