What happened Clothing retailer Kohl's (NYSE: KSS) was surging higher on Friday, up as much as 9.4% at 10:49 a.m. The market was up early on a positive jobs report but tumbled lower in the afternoon as all three major indexes were down on Friday at 3:30 p.m. With the Federal Reserve raising interest rates to tame runaway inflation, it could slow down the economy and put a dent in discretionary spending.