Stocks Opened Lower after Jobs Report

U.S. stocks opened lower on Friday, as investors digested a solid jobs report that may give the Federal Reserve little cause to delay hiking interest rates. The Dow Jones Industrial Average lately fell 34.35 points, or 0.20%, to 17,385.40. The S&P 500 was off 2.64 points, or 0.13%, to 2,080.92. The Nasdaq Composite
was down 8.72 points, or 0.17%, to 5,047.72.

U.S. employment rose at a solid clip in July and wages rebounded after a surprise stall in the prior month, signs of an improving economy that could open the door wider to a Federal Reserve interest rate hike in September. Nonfarm payrolls increased 215,000 last month as a pickup in construction and manufacturing jobs offset further declines in the mining sector, the Labor Department said on Friday.

Groupon Inc. (GRPN) swung to a profit in the second-quarter. The company said it had net profit of $109.1 million, or 16 cents a share, in the quarter, after a loss of $22.9 million, or 3 cents a share, in the year- earlier period. Revenue rose to $738.4 million from $716.2 million,

Cablevision Systems (CVC) Friday said it gained roughly 5,000 new subscribers during the second quarter as the company reported higher revenue in financial results that topped Wall Street forecasts.

Crude oil futures slid further on Friday due to gains in the dollar, sending it rolling towards its longest run of weekly losses since the turn of the year. Brent crude futures (LCOc1) fell by 40 cents to $49.12 at 1249 GMT.






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