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U.S. stocks were up on Friday as markets analyzed a cooler-than-expected July jobs report, along with earnings from Big Tech companies. The labor data caused Treasury yields to slightly decrease, providing relief for growth stocks. The government reported that nonfarm payrolls increased by 187,000, slightly missing estimates of 200,000. Despite this, investors don’t believe it will greatly impact the Federal Reserve’s future monetary policy decision. The unemployment rate remains at 3.5%, indicating a strong labor market.

In Friday’s trading, Apple (AAPL) saw a 3% drop following its solid quarterly results. However, the CNBC Investing Club remains confident in Apple due to upcoming catalysts and raised their price target to 5 per share. Amazon (AMZN) experienced a surge of over 10% after surpassing revenue and earnings expectations. The company’s cloud unit, Amazon Web Services, showed stabilizing growth and an increase in operating margins. The Investing Club raised their price target for Amazon to 0.

Palo Alto Networks (PANW) suffered a roughly 10% decline during Friday’s trading session due to cybersecurity peer Fortinet’s announcement of delayed deals and a cut in full-year guidance. Despite this, the Investing Club believes Palo Alto can weather these challenges as the cybersecurity industry continues to be a priority for companies. With the stock down about 12% for the week, the Club sees this as a potential buying opportunity. Palo Alto will report its quarter on Aug. 18.

Please note that the CNBC Investing Club provides trade alerts to subscribers before executing trades. Jim Cramer’s Charitable Trust is long on AAPL, AMZN, and PANW.

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