Dow Post 7-day Losing Streak

U.S. stocks closed slightly lower on Friday after a solid jobs report kept alive the possibly that the Federal Reserve will raise interest rates as soon as next month. The Dow Jones Industrial Average fell 46.37 points, or 0.27%, to 17,373.38, for its seventh-straight session of declines. The S&P 500 was down 5.99 points, or 0.29%, to 2,077.57. The Nasdaq Composite dipped 12.90 points, or 0.326%, to 5,043.54.

Friday’s labor-market report showed that the number of full-time U.S. jobs as a share of total employment rose to 81.7 percent, the highest level since November 2008.

Shares of American Express (AXP) spiked in midday trading Friday after news that activist fund, ValueAct Capital, had acquired a $1 billion stake in the credit card company.

Oil futures fell Friday, with the U.S. benchmark closing at its lowest level in more than four months. On the New York Mercantile Exchange, crude futures for September delivery fell 79 cents, or 1.8%, to close at $43.87 a barrel— the lowest close for a most-active contract since March 17. Oil fell 6.9% for the week, the largest drop in four weeks.