U.S. stocks reached record highs Friday following a mixed jobs report. While hiring slowed, the unemployment rate improved, suggesting a stable job market that might delay but not eliminate Federal Reserve interest rate cuts. Energy and housing sectors saw significant gains, while General Motors faced a substantial hit due to its EV pullback.
Walmart is set to join the prestigious Nasdaq-100 Index. The retail giant will replace British drugmaker AstraZeneca. This move takes effect on January 20. Walmart is also joining the Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Ex-Tech Sector Index. Companies often switch exchanges for better alignment with investor bases and services. The Nasdaq-100 is known for including top non-financial companies.
Saks Global, which owns Saks Fifth Avenue and Neiman Marcus, is expected to imminently file for bankruptcy protection, leaving questions about the retailer's future.
Nicor Gas filed a $221 million rate increase request Friday with the Illinois Commerce Commission to continue replacing and repairing transmission pipelines and aging equipment, according to a news release.
