All three major US stock indexes were down around midday Friday as traders assessed the stronger-than-expected jobs report.

The December 2024 employment report showed nonfarm payrolls rose by 256,000, higher than the 165,000 jobs increase expected in a survey compiled by Bloomberg.

The unemployment rate fell to 4.1% in December from 4.2% in November, compared with a 4.2% rate expected.

In corporate news, Mercury General (MCY) issued a preliminary assessment of the Southern California wildfires, anticipating losses to surpass its $150 million reinsurance retention level as evaluations continue. Mercury General shares slipped more than 20%.

Constellation Brands (STZ) shares slid nearly 15% after it reported fiscal Q3 results that fell short of market expectations.

Walgreens Boots Alliance (WBA) shares advanced over 23% after it reported fiscal Q1 results that topped estimates.

Delta Air Lines (DAL) shares rose nearly 9%, after it reported higher Q4 non-GAAP earnings and total operating revenue, while the carrier expects full-year 2025 earnings growth of over 10%.

Warner Bros. Discovery (WBD), Fox (FOX) and Walt Disney's (DIS) ESPN said in a joint statement Friday they have decided not to move forward with their planned Venu sports streaming service. Shares of Warner Bros. Discovery retreated 5%, Disney fell 1% and Fox lost over 2%.

Constellation Energy (CEG) has agreed to acquire Calpine in a cash and stock transaction valued at about $16.4 billion. Constellation Energy jumped 23%.

Price: 48.36, Change: -12.35, Percent Change: -20.34