US equity markets closed out a strong week on firmer footing after many felt the latest jobs data afforded the Federal Reserve room to hold interest rates steady and put the economy on track for a ‘soft’ landing - Dow rose +116-points or +0.33%, trading more than >250-points higher earlier in the session. Intel Corp up +4.13% was the leading Dow component, extending gains a day after Chief Executive Officer Pat Gelsinger addressed a Deutsche Bank conference and said the company is tracking above the midpoint of its third-quarter outlook. However, Walgreens Boots Alliance Inc dropped -7.43% after the pharmaceutical chain and healthcare services company announced that Chief Executive Officer (CEO) Rosalind Brewer had stepped down after just 2.5-years in that role. The leadership change comes after Walgreens shares suffered their worst monthly decline in nearly five years in August (down -15.55%), and a month after the surprise departure of the suburban Chicago–based company’s chief financial officer. Separately, Walgreens said it expects 2023 adjusted earnings per share (EPS) to be at or near the low end of previous guidance. In June, the company cut its full-year EPS guidance to US$4.00 to US$4.05, while the current consensus sits at US$4.01.
