Hourly Market Review - Mar 8, 2024 12 PM

The S&P 500 and Nasdaq Composite retreated on Friday after reaching new all-time highs earlier in the session. The S&P 500 lost about 0.1%, while the Nasdaq Composite slipped 0.4%. The Dow Jones Industrial Average added 87 points, or 0.2%. 

For the week, the Dow and Nasdaq are down 0.6% and 0.4%, respectively, while the S&P 500 has risen 0.2%. Nvidia's shares, which have been on a significant rally, fell by 3% on Friday but are still up over 9% for the week. Despite this, experts believe the longer-term upside potential for Nvidia is not over. Apple rose more than 1% on Friday, potentially ending its longest losing streak since early 2022. 

The February jobs data showed a higher-than-expected number of jobs added (275,000 vs. an estimate of 198,000), but the unemployment rate rose to 3.9% and wage growth was lighter than expected. This mixed data suggests the economy may still be running hot, but there are signs of cooling that could appease the Fed.

Movers of the hour:

The Joint is up 28.34% at $11.73.  

Solowin is up 28.10% at $38.75.  

Smith & Wesson Brands is up 26.41% at $16.99.  

Willdan Group is up 25.68% at $24.95.  

DoubleDown is up 24.23% at $14.56.