Market Update: AAPL, BBY, ITGR, GS

Summary

The major indices wavered between gains and losses on Friday morning after Thursday’s sharp selloff and a mixed February employment report. The Labor Department said that the U.S. economy added 311,000 payroll jobs last month, well above the consensus forecast; however, growth in average hourly earnings slowed to 0.2% from 0.3% in January and the unemployment rate rose to 3.6% from 3.4%. Media reports indicated that embattled SVB Financial was seeking a buyer after the stock plunged more than 60% on Thursday; trading in the shares was halted on Friday morning. The Dow fell 0.1%, the S&P 0.2%, and the Nasdaq 0.4%. Crude oil rose to $77 per barrel, while gold jumped $25 to $1859 per ounce.

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