US stocks look to jobs data as traders shift from AI tech
U.S. cash stock markets are closed Sunday. Wall Street heads into the new week with just four trading days, and the most crowded trade is still the weakest spot: AI tech. The S&P 500 closed Friday at 7,353.95, slipping 0.05%. The Nasdaq dropped 0.24% to 25,297.62, and the Dow was off 0.09% at 51,876.11. S&P 500 dropped 2% this week, led by tech, according to NYSE strategists Eric Criscuolo and Michael P. Reinking. But they pointed to stronger “underlying metrics”: the equal-weight S&P 500 added 1.5%, the S&P 600 gained over 3%, and most sectors—seven out of 11—were up.