Stocks Finish Lower on Weak Jobs Report
Stocks fell in trading on Friday as investors digested disappointing jobs report for the month March. All three major indexes fell sharply after a report from the Labor Department showed that the U.S. economy added just 88,000 jobs in March, significantly below the consensus forecast of 200,000 job additions. However, all three major indexes managed to pare some of their losses in late trading to finish the day off session lows.
The Dow Jones ended the day 0.28% lower at 14,565.25, the S&P 500 ended the day 0.43% lower at 1,553.28, and the Nasdaq ended the day 0.65% lower at 3,203.86. For the week, the Dow Jones fell 0.09%, the S&P 500 fell 1.01%, and the Nasdaq fell 1.95%.
Technology sector led the losses in the S&P 500 in trading on Friday, ending the day 0.97% lower. Conglomerates also fell sharply today, ending the day 0.76% lower. Consumer Non-Cyclical sector ended the day 0.72% lower. Industrials and Utilities were the only sectors in the S&P 500 to finish the day in green. Industrials ended the day 0.22% higher, while Utilities ended the day 0.31% higher.
Among the major movers in trading on Friday were NII Holdings Inc. (NASDAQ: NIHD), which ended the day 20.70% higher at $5.48, F5 Networks Inc. (NASDAQ: FFIV), which ended the day 19.03% lower at $73.21, and Ultra Petroleum Corp. (NYSE: UPL), which ended the day 7.34% higher at $20.34.
European markets ended mostly lower on Friday, with the FTSE 100 Index in London closing 1.49% lower, and the CAC 40 Index in Paris closing 1.68% lower. Asian markets ended on a mixed note overnight, with the Nikkei 225 Index in Japan closing 1.58% higher, and the Hang Seng Index in Hong Kong closing 2.87% lower.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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