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Economy & Finance

U.S. Stocks

U.S. stocks saw mixed movement on Friday, with the S&P 500 and Nasdaq achieving record highs following job data that exceeded expectations but still signaled a cooling labor market. The S&P 500 edged up 0.25%, while the Nasdaq gained 0.81%, buoyed by strong performances from Tesla, Meta, and Amazon. However, the Dow fell 0.28%, closing lower for the day and week. The November jobs report showed payroll growth of 227,000, surpassing forecasts, and an unemployment rate of 4.2%, aligning with expectations. The data boosted market confidence in a likely Fed rate cut at its upcoming meeting, as investors viewed the labor market as resilient yet easing enough to justify further monetary support.

Technology

TikTok

A U.S. federal appeals court upheld a law requiring TikTok’s parent company, ByteDance, to sell its U.S. operations by January 19 or face a ban, citing national security concerns over Chinese government influence. The ruling, supported by bipartisan efforts, marks a major blow to ByteDance and a win for the Justice Department, raising the likelihood of TikTok’s removal from app stores and hosting platforms if divestment fails. TikTok plans to appeal to the Supreme Court, while critics argue the decision infringes on free speech. The case reflects escalating U.S.-China tensions and could pave the way for stricter actions against other foreign-owned apps.

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