Tech Advances After Mixed Jobs Data — Tech Roundup

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Shares of technology companies rose after mixed jobs data spurred bets that the Federal Reserve would soon commence cutting interest rates.

Employers added a seasonally adjusted 199,000 jobs last month, the Labor Department reported Friday, slower than earlier in the year but consistent with gains before the pandemic. When excluding the effects of autoworker strikes in recent months, November’s job gain was roughly 169,000, slightly cooler than 180,000 in October.

U.K. regulators said they are examining Microsoft’s partnership with OpenAI, the first major global competition authority to scrutinize the relationship between the tech giant and the artificial-intelligence company behind ChatGPT.

Chinese social-networking platform Quwan Holding struck a deal to go public by merging with a blank-check company listed in Hong Kong, valuing the company at around $1 billion.

Apple shares rose, testing all time highs, after reports the Silicon Valley gaint and its suppliers aimed to build more than 50 million iPhones in India annually within the next two to three years, as Apple seeks to diversify its China-dependent supply chain.

Write to Rob Curran at rob.curran@dowjones.com

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