US Stocks Dip As Job Market Surges In May

A trader works on the floor of the New York Stock Exchange shortly before the closing bell as the market takes a significant dip in New York

On Friday morning, US stocks experienced a decline following the release of new data indicating a surge in job market activity during May. Futures linked to the Dow Jones Industrial Average dropped by 149 points, representing a 0.4% decrease. Similarly, S&P 500 futures slipped by 0.3%, while Nasdaq-100 futures saw a 0.2% decline.

Last month, the US economy added 272,000 jobs, surpassing the anticipated figure of 180,000 as projected by economists. Despite the job gains, the unemployment rate in the country rose to 4%, according to data from the Bureau of Labor Statistics.

Dow Jones futures dropped by 0.4% after job market surge news.

US stocks fell on Friday following strong job market data.

S&P 500 and Nasdaq-100 futures also slipped on Friday morning.

Bond yields also experienced an increase on Friday morning, with the 10-year US Treasury yield climbing to 4.4%.