Stocks Ended Second Straight Week with Losses

U.S. stocks ended Friday and a holiday-shortened week with losses, as investors eyed a soft jobs report and were on edge ahead of Greece’s Sunday referendum. The Dow Jones Industrial Average slipped 27.80 points, or 0.2%, to 17,730.11 and fell 1.2% over the week. The S&P 500 was down 0.64 point, or 0.03%, to 2,076.78 and recorded a 1.2% loss over the week. The Nasdaq Composite shed 3.91 points, or 0.08%, to 5,009.21 and booked a 1.4% loss over the week.

The International Monetary Fund warned on Thursday that Greece would need an extension of its European Union loans and a potentially a large debt writeoff if it grows more slowly than expected and economic reforms are not implemented.

U.S. job growth slowed in June and Americans left the labor force in droves, tempering expectations for a September interest rate hike from the Federal Reserve. Nonfarm payrolls increased 223,000 last month, with construction employment unchanged and the mining sector purging more jobs, the Labor Department said on Thursday.

BP and five Gulf states announced a record $18.7 billion settlement Thursday that resolves years of legal fighting over the environmental and economic damage done by the energy giant’s oil spill in 2010.

Whole Foods Market Inc admitted that there were pricing issues at its New York City stores, a week after the NY Department of Consumer Affairs said the supermarket chain was overstating the weight of prepackaged meat, dairy and other goods.






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