Wall Street Ticks Higher After Jobs Rep01/09 09:57

   U.S. stocks are ticking higher Friday following a mixed report on the U.S. 
job market, one that may delay another cut to interest rates by the Federal 
Reserve but not necessarily slam the door on it.

   NEW YORK (AP) -- U.S. stocks are ticking higher Friday following a mixed 
report on the U.S. job market, one that may delay another cut to interest rates 
by the Federal Reserve but not necessarily slam the door on it.

   The S&P 500 rose 0.2% in early trading and was nearing its all-time high set 
earlier in the week. The Dow Jones Industrial Average was up 147 points, or 
0.3%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was virtually 
unchanged.

   Treasury yields were mixed in the bond market after the U.S. Labor 
Department said employers hired fewer workers in total during December than 
economists expected, though the unemployment rate improved and was better than 
expected. It reinforced the belief that the U.S. job market may be in a " 
low-hire, low-fire" state.

   While the overall data was mixed, the improvement in the unemployment rate 
was enough to get traders to ratchet back their expectations for a cut to 
interest rates at the Fed's next meeting at the end of this month. Traders are 
now forecasting just a 5% chance of that, down from 11% a day before, according 
to data from CME Group.

   But they're still forecasting a high likelihood that the Fed will cut at 
least twice this upcoming year. Whether they're correct carries high stakes for 
financial markets. Lower interest rates can goose the economy and push up 
prices for investments, though they also can worsen inflation at the same time.

   "Until the data provide a clearer direction, a divided Fed is likely to stay 
that way," according to Ellen Zentner, chief economic strategist for Morgan 
Stanley Wealth Management. "Lower rates are likely coming this year, but the 
markets may have to be patient."

   After the report, the yield on the 10-year Treasury held at 4.19%, where it 
was late Thursday. It tends to track expectations for longer-term economic 
growth and inflation. But the two-year Treasury yield, which more closely 
tracks forecasts for what the Fed will do with short-term interest rates in the 
near term, ticked up to 3.50% from 3.49%.

   On Wall Street, power company Vistra soared 14.6% to help lead the market 
after signing a 20-year deal to provide electricity to Meta Platforms from 
three of its nuclear plants. Big Tech companies have been signing a string of 
such deals to electrify the data centers powering their moves into 
artificial-intelligence technology.

   Oklo jumped 12% after saying it also signed a deal with Meta Platforms that 
will help it secure nuclear fuel and advance its project to build a facility in 
Pike County, Ohio.

   They helped offset a 1.6% drop for General Motors. The auto giant said it 
will take a $6 billion hit to its results for the last three months of 2025 
related to its pullback from electric vehicles. That's on top of the $1.6 
billion in charges GM took in the prior quarter. Fewer tax incentives and 
easier fuel-emission regulations have been eating into demand for EVs.

   WD-40 tumbled 13.7% after reporting a weaker profit for the latest quarter 
than analysts expected. Chief Financial Officer Sara Hyzer said the soft 
numbers were primarily because of timing issues, not weaker demand from end 
customers, and the company stood by its financial forecasts for the upcoming 
year.

   In stock markets abroad, indexes rose across much of Europe and Asia.

   The French CAC 40 rose 1%, and Japan's Nikkei 225 jumped 1.6% for two of the 
world's bigger gains. In Tokyo, Fast Retailing, the fashion company behind 
Uniqlo, jumped 10.6% after its quarterly operating profit surged about 34% 
year-on-year. It revised its full-year forecasts upward.