A federal judge has struck down a Trump administration policy that made it harder for immigrants from dozens of countries to enter and stay in the U.S. The judge criticized the policy for putting immigrants' lives in "indeterminate legal limbo" and accused the U.S. Citizenship and Immigration Services of ignoring the law. Also Friday, the Senate passed a $70 billion bill to fund Trump's immigration enforcement agencies after weeks of delays. And the American job market shows surprising strength, with employers adding 172,000 jobs in May, despite high costs from the Iran war.

The U.S. stock market had its worst day since October as a sell-off in big technology companies weighed down the broader market. Bond yields surged as a strong jobs report boosted expectations that the Federal Reserve will be forced to hike interest rates at some point this year. The S&P 500 slumped 2.6% Friday, finishing with its first losing week in the last 10. The Dow Jones Industrial Average fell 695 points, or 1.4%. The Nasdaq composite fell 4.2%. Nvidia and Broadcom were among the heaviest weights on the market. The Labor Department reported that employers added 172,000 jobs in May, roughly double what forecasters had expected. Oil prices fell.

President Donald Trump says he wants his new acting director of national intelligence to cut the office, which has already been significantly scaled back during his second term. Trump noted aboard Air Force One the size of the office has been “way too high for way too long” and if Bill Pulte cuts it, he "wouldn’t mind.” The Republican president said in an earlier interview with The Wall Street Journal he has asked Pulte to start the process of firing employees. Trump says Pulte will stay in the acting position depending on how long it takes to get his successor confirmed. The president says he's considering five people but hasn't named them.

U.S. employers added a surprising 172,000 jobs in May as the labor market continued to show resilience in the face of rising costs from the Iran war. The Labor Department reported Friday that job growth was down slightly last month from a revised 179,000 in April. The unemployment rate stayed at a low 4.3%. The job market has been recovering this year from a miserable 2025, so far shrugging off higher energy prices and increased economic uncertainty since the United States and Israel attacked Iran in late February.

Scott Pelley may have lost his job after publicly blasting CBS management. But for many workers, he lived out a fantasy. In a staff meeting this week, the longtime “60 Minutes” correspondent questioned the qualifications of top executives and accused them of undermining the storied news program. While his bosses dismissed him, saying he exhibited “remarkable incivility and contempt," many others are cheering Pelley, saying it was like watching a fantasy play out after years of biting their tongues around bosses they viewed as clueless.

WASHINGTON (AP) — The number of Americans filing for jobless aid hit their highest level in four months last week, but layoffs remain historic…

WASHINGTON (AP) — U.S. job openings jumped in April as the labor market looked resilient despite economic uncertainty caused by the Iran war.