U.S. stocks close mixed as Dow books weekly loss after weak jobs data, casting doubt on timing of Fed taper

0 6
U.S. stock indexes ended mixed Friday, with the Dow Jones Industrial Average posting a weekly loss after monthly employment data from the Labor Department came in far weaker than had been anticipated. The employment report sparked fresh questions about the job market’s recovery from the COVID-19 pandemic amid the spread of the delta variant.The Dow rose 131.29 points on Thursday to finish at 35,443.82, while both the S&P 500 and the Nasdaq Composite closed at new records, climbing 0.3% to 4,536.95 and 0.1% to 15,331.18, respectively. For the week, the Dow saw a modest 0.2% loss, while the S&P 500 gained 0.6% and the Nasdaq posted a weekly advance of 1.6% according to FactSet data.What drove markets? Job creation in August weakened significantly and the mood on Wall Street darkened a little for stock-market bulls on Friday. Data from the Labor Department showed that the U.S. economy added 235,000 jobs in August, far fewer than forecast for an increase of 720,0
Subscribe or log in to read the rest of this content.
Leave A Reply

Your email address will not be published.

At The Centre of Every Trade