Apple, jobs data leave markets mixed
Specialist Michael O'Mara, left, and trader Robert Moran work on the floor of the New York Stock Exchange in Manhattan. Stock markets were in a holding pattern before a U.S. jobs report Friday. (Dec. 6, 2012) Credit: AP
Apple spoiled the stock market's party Friday.
Stocks shot higher in the morning after the government reported that the United States added jobs in November. But Apple, which has been flailing in recent weeks as investors wonder how long its momentum can continue, dragged down some indexes.
The Dow Jones industrial average, which doesn't include Apple, rose. The Standard & Poor's 500 index and Nasdaq, which do, were less impressive.
The headline numbers from the jobs report sent the market higher in early trading. The overall report, however, painted a more restrained view of the economy.
"If you delve into that report a little more, there are some disturbing issues," said Brian Lund, who is based in Los Angeles at the online brokerage Ditto Trade. He cited possible long-term effects from superstorm Sandy on jobs.
At the end of the day, the Dow was up 81.09 points to 13,155.13. The S&P 500, where Apple's weight is 4 percent, was up but by a smaller proportion, rising 0.29 percent to 1,418.07. The Nasdaq composite index, where Apple accounts for a hefty 12 percent, fell 0.38 percent to 2,978.04. Apple fell $13.99 to $533.25, or 2.56 percent. -- AP
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