US stocks drop but end the week with strong gains after latest Fed move and mega-cap earnings

Fri, 02/03/2023 - 16:06

Trader NYSE — Traders work on the floor at the opening bell of the Dow Industrial Average at the New York Stock Exchange on March 18, 2020 in New York.
Bryan R. Smith/AFP/Getty Images

US stocks fell on Friday but finished the week higher after a slew of market-moving news.
The Fed hiked interest rates, mega-cap tech reported earnings, and the January jobs report surprised to the upside.
The US economy added 517,000 jobs in January and the unemployment rate fell to 3.4%.

US stocks fell on Friday but finished the week higher after a slew of market-shaking news, with the S&P 500 and Nasdaq 100 gaining about 2% and 3%, respectively.