Suryaa Business Desk: US stock markets opened Friday’s trading session with minor gains. The indices were supported by a recovery in technology shares, which rebounded from the heavy selling pressure seen in semiconductor and chip manufacturing stocks during the previous session. Major indices, including the Nasdaq and S&P 500, opened in the green. Investors are currently focused on released US employment statistics and upcoming Federal Reserve interest rate decisions.
Following a correction in the previous session that pulled the market lower, major semiconductor companies such as Nvidia and Broadcom saw buying support at lower levels. This rebound in chip stocks helped stabilize the Nasdaq. Investors re-entered the market during the dip, citing the strong long-term growth outlook for artificial intelligence and hardware companies.
Meanwhile, the released US non-farm payrolls report has sparked discussion among traders regarding the state of the labor market. The Federal Reserve is expected to closely examine factors such as job growth rates, the unemployment percentage, and wage increases. Analysts suggest that if signs emerge that the labor market is cooling, the Federal Reserve may increase the pace of interest rate cuts. Amid these developments, global markets are proceeding cautiously while monitoring movements in bond yields.