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Here's your Closing Bell Brief for Friday, February 7th. I'm Danny Lewis for The Wall Street Journal. All three major U.S. stock indexes finished the week lower after days of whipsawing in response to trade uncertainty and big tech earnings. The major indexes fell Friday after a mixed jobs report showed the U.S. economy added 143,000 rolls in January, slightly below forecasts.
Investors are closely watching the new data as the health of the labor market is a key factor of the Federal Reserve's decisions on interest rates. And fresh data on consumer sentiment from the University of Michigan suggests the so-called Trump bump is already over.
Tariff threats, rapidly reversing executive orders, and stock market swings are making Americans more pessimistic about the economy. The Dow Jones Industrial Average lost 444 points, or 1%. It closed at 44,303. The S&P 500 also slumped by 1%, losing almost 58 points.
and the Nasdaq fell 269 points. For the week, the Dow and Nasdaq each fell about half a percent, and the S&P 500 declined a quarter of a percent. In individual companies today, shares of U.S. Steel fell 5.8 percent after President Trump said he supported an emerging agreement for Japan's Nippon Steel to invest in, but not fully own the company. He had previously opposed Nippon Steel's $14.1 billion proposal to own U.S. Steel.
And Amazon's latest quarterly earnings and revenue met or beat analyst forecasts, but the cloud computing and online retail giant's outlook missed expectations as it doubles down on artificial intelligence spending. The company's stock fell 4.1%. We'll have more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker, or listen and subscribe wherever you get your podcasts.