U.S. stocks opened mixed after July jobs report showed unexpected labor market weakness, while Cloudflare shares rallied on strong Q2 results.
The Dow Jones Industrial Average fell 0.1% at Friday’s open following a weaker-than-expected July jobs report, which signaled unexpected labor market softness. The S&P 500 edged up 0.3%, supported by gains in tech and growth sectors.
Analysts had anticipated a modest jobs gain, but the report revealed a surprise decline, raising concerns about economic momentum. Cloudflare (NET) surged after its Q2 earnings surpassed Wall Street estimates, with revenue guidance also exceeding expectations.
The mixed market reaction reflected broader uncertainty over Federal Reserve policy and corporate earnings resilience.