04:54 PM EST, 01/10/2025 (MT Newswires) -- US benchmark equity indexes fell Friday, while Treasury yields soared as traders parsed official data showing that the economy added more jobs than projected in December.

The Dow Jones Industrial Average and the Nasdaq Composite fell 1.6% each to 41,938.5 and 19,161.6, respectively, while the S&P 500 lost 1.5% to 5,827. Real estate and financials saw the biggest drops among sectors. Energy was the sole gainer.

US stock markets were closed Thursday to mourn the passing of former President Jimmy Carter.

For the week, the Nasdaq declined 2.3%, while the Dow and the S&P 500 shed 1.9% each.

In economic news, total US nonfarm payrolls rose by 256,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 165,000 increase, according to a survey compiled by Bloomberg.

"This was a robust employment report that reinforces the resilience of the US labor market and expansion and will keep the (Federal Reserve) on hold in January as they try to bring inflation pressures down," BMO said.

Markets are widely expecting the central bank's Federal Open Market Committee to hold interest rates steady later this month, according to the CME FedWatch tool.

US consumer sentiment dropped this month as year-ahead inflation expectations hit the highest level since May, preliminary results from the University of Michigan's Surveys of Consumers showed. Consumers' five-year inflation outlook increased to 3.3% from 3%, marking the third time in the past four years that the metric has seen such a large one-month change, according to the report.

The US two-year yield jumped 12.4 basis point to 4.39% Friday, while the 10-year rate gained 8.4 basis points to 4.77%.

In company news, Constellation Brands ( STZ ) shares sank 17%, the worst performer on the S&P 500, as the beer and wine company lowered its annual sales outlook after its fiscal third-quarter results missed Wall Street's expectations.

Walt Disney's ( DIS ) ESPN ( DIS ), Fox (FOX, FOXA), and Warner Bros. Discovery ( WBD ) said they will not launch their planned Venu Sports streaming service. Warner Bros. shares declined 3.6%, while Disney ( DIS ) lost 1%. Fox's class A and B shares dropped 1.6% each.

Constellation Energy ( CEG ) agreed to acquire privately held energy company Calpine in a cash-and-stock deal for a net price of $26.6 billion, including debt. Constellation Energy's ( CEG ) shares soared 25%, the best performer on the Nasdaq and the second-best on the S&P 500.

Walgreens Boots Alliance ( WBA ) was the top gainer on the S&P 500, up nearly 28%, after the drugstore chain logged better-than-expected fiscal first-quarter results buoyed by sales growth across its divisions. The company reiterated its full-year earnings outlook amid a challenging US retail environment.

West Texas Intermediate crude oil jumped 3.6% to $76.61 a barrel Friday as the US Department of the Treasury announced further sanctions against Russia by targeting its oil production and exports. This could boost crude demand from certain producers in the Middle East, led by Saudi Arabia, Saxo Bank said in a report.

Gold increased 1% to $2,716.70 per troy ounce, while silver advanced 0.9% to $31.30 per ounce.