Equity Markets Mixed Intraday After Jobs Report
() -- US benchmark equity indexes were mixed intraday as traders assessed the latest jobs report. The Nasdaq Composite was down 1.4% at 25,687.5 after midday Thursday, while the S&P 500 fell 0.6% to 7,439.8. The Dow Jones Industrial Average rose 0.4% to 52,529.7. Among sectors, technology saw the steepest decline, while healthcare paced the gainers. Cisco Systems (CSCO) shares were down 4.2%, the worst performer on the Dow, while Nvidia (NVDA) was among the steepest decliners on the index. US markets will be closed Friday in observance of the Independence Day holiday, which falls on a Saturday this year. The US economy added 57,000 nonfarm jobs in June, representing the weakest tally since February, official data showed Thursday. The consensus was for an 113,000 increase in a Bloomberg-compiled survey. Economists said downward revisions to payrolls growth in the previous two months has clouded a recent revival in the labor market. The unemployment rate ticked down to 4.2% from 4.3%, which was Wall Street's projection. The latest jobs report is unlikely to force the Federal Reserve to make a change in monetary policy immediately, as the pace of growth is "plenty strong enough to.
() -- US benchmark equity indexes were mixed intraday as traders assessed the latest jobs report.
The Nasdaq Composite was down 1.4% at 25,687.5 after midday Thursday, while the S&P 500 fell 0.6% to 7,439.8.
The Dow Jones Industrial Average rose 0.4% to 52,529.7.
Among sectors, technology saw the steepest decline, while healthcare paced the gainers.
Cisco Systems (CSCO) shares were down 4.2%, the worst performer on the Dow, while Nvidia (NVDA) was among the steepest decliners on the index.
US markets will be closed Friday in observance of the Independence Day holiday, which falls on a Saturday this year.
The US economy added 57,000 nonfarm jobs in June, representing the weakest tally since February, official data showed Thursday.
The consensus was for an 113,000 increase in a Bloomberg-compiled survey.
Economists said downward revisions to payrolls growth in the previous two months has clouded a recent revival in the labor market.
The unemployment rate ticked down to 4.2% from 4.3%, which was Wall Street's projection.
The latest jobs report is unlikely to force the Federal Reserve to make a change in monetary policy immediately, as the pace of growth is "plenty strong enough to.