US stocks head slightly lower after jobs report
Source: AP-Excite
NEW YORK (AP) — The U.S. stock market sank in early Friday trading after the government's monthly jobs report fell short of Wall Street's expectations for hiring.
KEEPING SCORE: As of 9:50 a.m. Eastern time, the Standard & Poor's 500 index was down three points, or 0.2 percent, to 2,028. The Dow Jones industrial average lost 44 points, or 0.3 percent, to 17,510. The Nasdaq composite fell 11 points, or 0.2 percent, to 4,627.
The S&P 500, a widely used benchmark for mutual funds, is on track to end the week with a 0.4 percent gain, its third weekly gain in a row. The Dow and S&P 500 closed at record highs the day before.
THE NEWS: The Labor Department said that U.S. employers added 214,000 jobs to their payrolls in October, extending the healthiest pace of hiring in eight years. That knocked the unemployment rate down to 5.8 percent, the lowest rate since July 2008. But Wall Street was looking for more: Economists had forecast that employers hired 230,000 more workers last month.
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Read more: http://apnews.excite.com/article/20141107/financial_markets-e8a6501514.html
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Kidding. The 1% hasn't invested in America in decades.
