The Dow Jones Industrial Average (DJI) is plummeting 385 points, after a hotter-than-anticipated nonfarm payrolls report triggered renewed fears for a rate hike at this month's Federal Reserve meeting. The reading saw a 162,000 rise in jobs, more than tripling estimates of 53,000, while unemployment held steady at 4.1%. The Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) are swimming in red ink as well.
U.S. President Donald Trump pushed for rate cuts, saying "We should have the LOWEST RATE of any country in the world." Commodities are taking a hit as well, with front-month gold futures eyeing a second-straight weekly loss. Of the three main indices, the Dow is the only one headed for a losing week.
T-Mobile U.S. Inc (TMUS) stock is 3.1% lower to trade at $182.19 this afternoon, pulling back after the company said Jessica Uhl will become the next chief financial officer (CFO), after CFO Peter Osvaldik steps down in February. TMUS has pulled back to the 20-day moving average this afternoon. Just yesterday the shares were rejected by the $190 ceiling and now sport a 9% deficit for 2026. Options traders are circling in response, 16,000 calls and 15,000 puts across the tape so far, 11 times the average intraday volume. Most popular is the expiring weekly 185-strike call.
One of the best stocks on the New York Stock Exchange (NYSE) today is Coherent Corp (COHR), trading up 6.5% at $281.66, as investors flock to AI stocks on the back of a rise in Treasury yields. The semiconductor giant has climbed 52.6% so far in 2026.
On the flip side, Asana Inc (ASAN) is down 14.5% at $8.65, one of the worst NYSE performers despite the software platform posting a second-quarter earnings and revenue beat. ASAN has shed 36.7% year to date, gapping below the 20-day moving average since late July.
Comments
Log in or sign up to join the conversation.