Stocks Ended Slightly Lower after Strong Jobs Report

U.S. stocks closed slightly lower Friday, after a stronger-than-expected June jobs report, reducing the chances of multiple Federal Reserve rate cuts by the end of the year. The Dow Jones Industrial Average shed 43.88 points, or 0.16%, to 26,922.12. The S&P 500 declined 5.41 points, or 0.18%, to 2,990.41. The Nasdaq Composite gave up 8.44 points, or 0.10%, to 8,161.79. For the week, Dow was up 1.2%, S&P was up 1.7%, and Nasdaq up 1.9%.

Oil futures climbed Friday as tensions in the Middle East grow. August West Texas Intermediate crude rose 17 cents, or 0.3%, to settle at $57.51 a barrel and lost 1.6% for the week. September Brent climbed by 93 cents, or 1.5%, to $64.23 a barrel and declined by 0.8% for the week.

About the Author

has written 11914 stories on this site.

Copyright © 2012 Nine Stocks