US stocks open Friday mixed after strong jobs figures

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US opened mixed on Friday after strong jobs figures for January.

The Dow Jones lost 120 points, or 0.31%, to 38,400 at 9.34 a.m. EDT (1434GMT).

The S&P 500, on the other hand, rose seven points, or 0.15%, to 4,913. The tech-heavy Nasdaq added 55 points, or 0.36%, to 15,415.

US economy added 353,000 jobs in January, much higher than market estimates of 187,000, the Labor Department announced earlier.

Job additions for December 2023, meanwhile, were significantly revised up by 117,000 from 216,000 to 333,000, according to data from the Bureau of Labor Statistics.

The strong figures suggest that the labor market in the world's biggest economy still remains hot, which could delay the US Federal Reserve's first interest rate cut this year.

The VIX volatility index, also known as the fear index, rose 2% to 14.14. The 10-year US Treasury yield jumped 3.6% to 3.999%.

The dollar index increased 0.7% to 103.77, while the euro lost 0.7% to $1.0795 against the greenback.

Precious metals were on decline, with gold losing 1.3% to $2,028 per ounce and silver decreasing 3.3% to $22.40.

Oil prices were in negative territory, with global benchmark Brent crude losing 1.7% to $77.37 per barrel, and US benchmark West Texas Intermediate crude falling 2.1% to $72.28.