To The Moon

U.S. Stock Market Declines Following Mixed Jobs Report and Concerns Over AI Company Valuations

U.S. stocks turned negative after initially gaining, influenced by a mixed September jobs report showing 119,000 new positions but a rise in unemployment to 4.4%. Despite Nvidia's strong earnings, investor concerns about high valuations and aggressive spending in AI companies led to a sell-off. The Nasdaq, S&P 500, and Dow all declined, while Treasury yields slipped amid uncertainty about future Federal Reserve rate cuts.