Friday saw the markets rally on the latest jobs report with the Dow up 700 points. It was the best day for the Dow and S&P 500 since November 30, 2022.

Investors hoped that the good news would continue today as inflation concerns abate.

Technology stocks have been taking a beating but today saw gains as the Nasdaq was the only major index to be in the positive, gaining 66.40 points on the back of an uptick in Tesla shares.

The Dow dropped 112.96 points to end at 33,517.65. The S&P 500 lost 2.99 points closing at 3,892.09.

“Today is another one of those days where you’re really seeing growth outperform value and you’re seeing a return to optimism in terms of what might happen for the stock market this year,” said Chief Investing Officer at Independent Advisor Alliance, Chris Zaccarelli.

On Friday, Chief Investment Strategist at State Street Global Advisors, Michael Arone had this to say.

“All investors care about is that data suggests inflation is moving towards the Fed’s target. That’s all investors care about and average hourly earnings, suggest inflation continues to slow. They are excited about that.”