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Showing posts from August, 2022

Dow rebounds to flat following strong jobs report

Live: Dow rebounds to flat, clawing back 200-point loss in volatile trading following strong jobs report Stocks wavered Friday in a volatile trading session after the July jobs report was much better than expected, as investors assessed what a strong labor market would mean for the Federal Reserve's rate tightening campaign. The Dow Jones Industrial Average gained 76.65 points, or 0.23%, to end at 32,803.47. Even with Friday's gains, however, it fell on the week. The S&P 500 shed 0.16% to end at 4,145.19, and the Nasdaq Composite lost 0.50% Friday, falling to 12,657.56. Still, both the S&P 500 and the Nasdaq ended the first week of August higher. Losses were offset by bank stocks, which rose on hopes that interest rate hikes will continue at a solid clip. Energy stocks also gained, but technology companies slumped. The labor market added 528,000 jobs in July,  easily  beating a Dow Jones estimate  of a 258,000 increase. The unemployment rate ticked down to 3.5%, below t