Stocks Opened Lower after Employment Data

U.S. stocks opened marginally lower on Friday as investors digested the latest employment data, showing 214,000 new jobs were added last month. The Dow Jones Industrial Average lately slipped 40.27 points, or 0.23%, to 17,514.20. The S&P 500 was down 4.21 points, or 0.21%, to 2,027.00. The Nasdaq Composite shed 15.26 points, or 0.33%, to 4,623.21.

U.S. job growth increased at a fairly brisk clip in October and the unemployment rate fell to a fresh six- year low of 5.8 percent, underscoring the economy’s resilience in the face of slowing global demand. Employers added 214,000 new jobs to their payrolls last month, the Labor Department said on Friday.

Sears Holdings Corp. said Friday that it is considering forming a real estate investment trust involving 200 to 300 of its stores, as the struggling retailer continues to pursue ways to shore up its balance sheet.

About the Author

has written 14551 stories on this site.

Copyright © 2012 Nine Stocks