The US economy added 151,000 jobs last month

US stocks opened lower Friday as investors digested key data about the health of the labor market.

The Dow opened 0.3% lower, down by around 75 points. The broader S&P 500 opened 0.2% lower and the tech-heavy Nasdaq Composite fell by 0.1%.

The US economy added 151,000 jobs last month, an increase from January’s revised gains of 125,000 jobs, but slightly below forecasts.

The fresh jobs data, which shows solid economic growth, comes as Wall Street looks to reverse a broad decline in markets on Thursday that saw the Nasdaq enter correction territory.

“Markets breathed a sigh of relief this morning that the jobs data wasn’t worse than expected,” said Chris Zaccarelli, chief investment officer at Northlight Asset Management, in a note.

The relief might be brief, however, as investors are also grappling with continued uncertainty from President Donald Trump’s tariffs. The S&P 500 is on pace for its worst week since September after a choppy week of back-and-forth announcements about tariffs.

Investors also parsed through data that showed cuts by the Department of Government Efficiency beginning to take effect.

“While strong, the jobs market will slow considerably with government in cutting mode,” said Jamie Cox, managing partner at Harris Financial Group.

David Russell, global head of market strategy at TradeStation, said investors still “see clouds on the horizon.”

“Tariffs threaten jobs because they threaten supply chains and profits,” Russell said. “Uncertainty is in a bull market.”