Market pullback

Markets pulled back Friday due to a strong jobs report and tech volatility. The Nasdaq and S&P 500 declined, ending winning streaks. A robust labor market fueled fears of Fed rate hikes. Jim Cramer called it a “cooling off period,” suggesting opportunities in semiconductors, despite some chipmakers like Intel and Broadcom facing pressure. Defensive sectors like healthcare saw gains. CrowdStrike’s stock fell, but Cramer sees potential in its AI cybersecurity initiatives. Upcoming events include Apple’s WWDC, Honeywell’s spin-off update, and SpaceX’s IPO.

Apple announces a CEO transition with John Ternus succeeding Tim Cook, potentially impacting AI strategy. Kevin Warsh’s Federal Reserve Chair confirmation hearing is key. Markets saw a pullback amid geopolitical tensions, though small-caps resilient. UnitedHealth Group reported strong Q1 results, raising guidance. Psychedelics research is accelerating following an executive order, boosting related stocks.