US Equity Indexes Mixed as Traders Assess Seasonality, Composition of Blowout Jobs Report

01:30 PM EST, 02/11/2026 (MT Newswires) -- US equity indexes traded mixed after midday Wednesday as investors weighed seasonality against a strong jobs report that sent government bond yields higher.

The S&P 500 climbed less than 0.1% to 6,946.9, while the Nasdaq Composite fell 0.1% to 23,078.3 and the Dow Jones Industrial Average slipped 0.2% to 50,095.3.

Total nonfarm payrolls rose by 130,000 in January, the Bureau of Labor Statistics said, double the 65,000 gain expected in a Bloomberg poll. December was revised lower by 2,000 to 48,000, while November was adjusted downward by 15,000 to 41,000, the BLS said. The unemployment rate fell to 4.3%, while the market expected it to hold steady at December's 4.4% print.

Health care led job gains, adding 82,000 positions in January and job growth averaging 33,000 a month in 2025, according to the BLS.

"There is an extraordinary degree of seasonality in the January payroll data," Jefferies Chief US Economist Thomas Simons said in a note. "Businesses made fewer pre-holiday temporary hires than usual. January is when these businesses let these people go, so fewer hires translate to fewer layoffs, and a strong seasonally adjusted payroll number for January."

Average hourly earnings grew 0.4% sequentially, the BLS report showed, above the Street's estimate for a 0.3% increase. The annual measure grew 3.7%, in line with expectations.

Energy, consumer staples, industrials, and materials led the gainers intraday. Communication services, consumer discretionary, and financials declined.

According to the CME FedWatch tool, the probability of the Federal Reserve leaving interest rates unchanged at its next policy meeting in March surged to 92% from 80% a day ago.

Most US Treasury yields rose, with the two-year higher by 5.2 basis points to 3.1%, and the 10-year rate up 2.9 basis points to 4.17%.

In company news, Generac (GNRC) said it expects net sales growth in the mid-teens in 2026 from $4.21 billion a year ago. Analysts polled by FactSet expect $4.72 billion. Shares of the company surged 17%, the top gainer on the S&P 500.

Shares of Robinhood Markets (HOOD) slumped 12%, the worst performer on the S&P 500, after the company reported a decline in Q4 net income while revenue missed market expectations.

In precious metals, gold futures rose 1.7% to $5,119.4 per troy ounce and silver futures jumped 5.2% to $83.61 per troy ounce.

In the energy market, West Texas Intermediate crude oil futures advanced 1.4% to $64.81 a barrel.

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