Stock Market Today: Dow Jones Rises On Today’s Jobs Report; Nvidia, Super Micro Surge

The Dow Jones Industrial Average climbed Friday after the morning’s jobs report showed an unexpected jump in the unemployment rate. Meanwhile, artificial intelligence leaders Nvidia (NVDA) and Super Micro Computer (SMCI) surged to new highs on the stock market today.

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The Dow Jones Industrial Average rose 0.2% in morning action Friday, as the S&P 500 gained 0.6%. The tech-heavy Nasdaq composite moved up 1% after the opening bell.

Among U.S. exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) was up 1%, and the SPDR S&P 500 ETF (SPY) rose 0.6%.

The 10-year Treasury yield ticked lower to 4.07%. Further, oil prices paused after two days of gains, as West Texas Intermediate futures fell 0.1%, trading near $78.90 a barrel.

Nvidia and Super Micro rallied 5% and 5.5%, respectively, after Friday’s market open. Both hit new highs.

Nvidia stock had jumped another 4.5% Thursday, hitting more record highs and trading more than 80% above a flat base’s 505.48 entry. Nvidia is an IBD Leaderboard stock.

Super Micro shares extended a win streak to six sessions Thursday, with a 3.1% rally.

Be sure to read how to adjust to changing market conditions, with IBD’s new exposure levels.

Stock Market Today: Jobs Report

Early Friday, the Labor Department said the U.S. economy added 275,000 jobs in February, higher than the 190,000 estimate. The unemployment rate rose to 3.9% in February vs. January’s 3.7% rate.

Economists had predicted the jobless rate would remain at 3.7%. Meanwhile, January payrolls were revised down from an increase of 353,000 to 229,000.

Key earnings reports Friday included Broadcom (AVGO), Costco Wholesale (COST), Marvell Technology (MRVL), MongoDB (MDB) and Samsara (IOT).

Broadcom shares declined 3.4% in morning trade, while Costco stock fell more than 5%. Marvell slid 7%, as MongoDB sold off2.73%. And Samsara stock soared 13% in early action.

Dow Jones Rises

On Thursday, the Dow Jones Industrial Average climbed 0.3%, while the S&P…