U.S. stocks finished the session lower in another choppy session as traders digested a mixed jobs report along with hawkish comments from Federal Reserve Bank of St. Louis President James Bullard.
Bullard, who will be a voting member of the Fed next year, highlighted the “unexpected inflation shock in the U.S.” as monetary policy remains “very accommodative” in a speech.
“These considerations suggest, on balance, that the Federal Open Market Committee should remove monetary policy accommodation,” he said.
The Dow Jones Industrial Average fell over 57 points or 0.17%, while the S&P 500 and Nasdaq Composite fell 0.8% and 1.9%, respectively capping off a volatile week.
This after the Labor Department reported that the U.S. economy added just 210,000 new nonfarm jobs last month, well below October’s stronger-than-expected tally of 546,000, which was revised higher. The unemployment rate fell to 4.2% from 4.5%.
Oil also climbed over 2% to the $66 per barrel level still oil majors declined.
In stocks, vaccine makers are in focus on a report the FDA is working with these companies for a speedy rollout of “testing and manufacturing guidelines” for the omicron variant, according to the Wall Street Journal.
Zillow ticked higher after the company said it was making progress in winding down its home-flipping business and announced a stock buyback.
Tesla shares are in focus after CEO Elon Musk sold another chunk of shares, about 1 million worth around $1 billion.
Chinese ride-hailing service Didi Global said Friday it will pull out of the New York Stock Exchange and shift its listing to Hong Kong as the ruling Communist Party tightens control over tech industries.
The Securities and Exchange Commission has moved to require that U.S.-listed foreign stocks like Didi disclose their ownership structures and audit reports, which could lead to some of them being delisted.
DocuSign shares fell by the most on record, over 40%, after revenue may be as much as $563 million, below the $573 million estimate among analysts.
