Stocks Dip Friday on Mixed Jobs

U.S. stocks ended lower Friday, taking the shine off weekly gains, as investors weighed better-than-forecast jobs data against concerns over Europe, which were highlighted midsession by a ratings downgrade of Italy and Spain. The Dow Jones Industrial Average fell 20.21 points, or 0.18%, to 11,103.12. It rose 1.7% for the week, its second straight weekly advance.  The S&P 500 ended down 9.51 points, or 0.82%, to 1,155.46. It rose 2.1% for the week. The Nasdaq Composite fell 27.47 points, or 1.10%, to 2,479.35. For the week, the Nasdaqadvanced 2.7%.

Consumers slashed their borrowing in August by the most in 16 months. The drop suggests many worried about taking on new debt while the economy slumped and the stock market fluctuated wildly. Total borrowing dropped $9.5 billion in August, the Federal Reserve said Friday. In July, borrowing increase $11.9 billion.

Walt Disney Co Chief Executive Bob Iger will step down as CEO in March 2015 after nearly a decade at the helm, setting in motion a succession plan for the largest U.S. media and entertainment company.

Eastman Kodak Co. shares jumped in Thursday trading as the photography icon worked its way through a volatile period.

Oil prices climbed to near $83 per barrel Friday as a volatile week for crude ended with news of a burst of hiring in the U.S. On Tuesday benchmark oil finished at $75.67 a barrel. That’s the lowest it’s been since September, 2010. On Friday it was up 39 cents to end at $82.98 a barrel.

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