Stocks drift lower after weak August jobs report

NEW YORK (AP) — Stocks are edging lower in early trading after the government reported lukewarm jobs growth last month.

The Dow Jones industrial average fell 87 points, or 0.6 percent, to 14,850 in the first few minutes of trading Friday.

The Standard & Poor’s 500 index fell seven points, or 0.4 percent, to 1,648. The Nasdaq composite fell 15 points, or 0.4 percent, to 3,641.

Bonds yields fell as investors anticipated that demand for bonds would remain strong if the Fed keeps up its bond purchases. The yield on the 10-year Treasury note fell to 2.91 percent from 3 percent late Thursday.

The Labor Department said U.S. employers added 169,000 jobs last month, fewer than economists expected.

VeriFone Systems jumped $2, or 10 percent, to $22.74 after reporting results that beat analysts’ expectations.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s