The U.S. labor market exceeded expectations in January, with nonfarm payrolls expanding by 130,000, surpassing the anticipated 55,000. Unemployment rate fell to 4.3%, lower than the expected 4.4%. Wall Street’s major indexes closed mixed, with S&P Global and AI-infrastructure stocks experiencing declines. Datadog surged after reporting strong Q4 results.

Economic data showed U.S. retail sales were weaker than expected in December, with core retail sales unchanged. The Q4 employment cost index also fell short of expectations. The Euro Stoxx 50 Index is down due to concerns over AI disruption, with technology stocks leading declines. Italy’s industrial production data was released today, showing a decrease of -0.4% m/m.

China’s Shanghai Composite Index closed flat as investors digested softer-than-expected inflation data. Non-ferrous metal stocks gained, while semiconductor and AI-related stocks slumped. The Chinese January CPI rose weaker than expected at +0.2% m/m and +0.2% y/y. PPI fell stronger than expected at -1.4% y/y. Japan’s Nikkei 225 was closed for the National Foundation Day holiday.

In pre-market trading, Cloudflare surged after strong Q4 results, Beta Technologies jumped after Amazon took a stake, and Mattel plummeted. Moderna fell after FDA declined to review its flu vaccine, and Robinhood Markets dropped after weak Q4 revenue. Cisco Systems, McDonald’s, T-Mobile US, and other big names are set to release earnings today.

Read more at Yahoo Finance: Stocks Climb as January Jobs Growth Eases Economic Concerns