Stocks Closed Higher, but Logged Weekly Decline

U.S. stocks bounced back from earlier weakness to close higher on Friday, but logged their second straight week of losses, as investors grappled with a disappointing jobs report and its ramifications for the monetary policy. The Dow Jones Industrial Average added 79.92 points, or 0.45%, to 17,740.63 and posted 0.19% decline. The S&P 500 rose 6.51 points, or 0.32%, to 2,057.14 and posted 0.39% losses. The Nasdaq Composite gained 19.06 points, or 0.40%, to 4,736.15 and lost 0.82% for the week.
Oil futures logged a gain Friday as wildfires in an oil-rich region of Canada and an attack on a Chevron-operated offshore oil facility in southern Nigeria fueled concerns about global crude-output disruptions. West Texas Intermediate futures gained 34 cents, or 0.8%, to close at $44.66 a barrel. Brent crude climbed 36 cents, or 0.8%, to settle at $45.37 a barrel.

The Federal Communications Commission just announced that it approved Charter’s acquisitions of Time Warner Cable (TWC) and Bright House Networks, allowing Charter to nearly quadruple in size.

The Treasury Department on Friday rejected a proposal by a pension fund to cut the payout for hundreds of thousands of truck drivers, construction workers and other service personnel, though the retirement plan’s financial headaches are far from over.

Sueddeutsche Zeitung said on Friday that the source of millions of documents leaked to the German newspaper from Panamanian law firm Mossack Fonseca had sent them a manifesto, saying his motivation was the “scale of injustices” the papers revealed.

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