Scattered Clouds 28° Good Afternoon
Scattered Clouds 28° Good Afternoon

U.S. stocks down despite solid employment report

Trader Peter Tuchman exhales he watches the numbers

Trader Peter Tuchman exhales he watches the numbers on Wednesday, Oct. 5, 2016, on the floor of the New York Stock Exchange. Photo Credit: AP / Richard Drew

Stocks closed with modest losses Friday, despite a solid but uninspiring September U.S. jobs report.

ON WALL STREET: At the close, the Dow Jones industrial average was down 28 points, about 0.2 percent, at 18,240.5. The Standard & Poor’s 500 index was off 7 points, about 0.3 percent, at 2,153.7. The Nasdaq composite gave up 14.5 points, about 0.3 percent, to 5,292.4.

OIL PRICES: As markets closed, the priceof U.S. benchmark crude oil futures dipped 83 cents to $50.15 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 61 cents to close at $50.44 a barrel on Thursday, its first close above $50 a barrel since June 23. In London, Brent crude, the international standard, slipped 85 cents to $51.66 a barrel.

JOBS REPORT: U.S. employers added 156,000 jobs in September, a decent gain that reflects a steady economy but also a sign that hiring has slowed from its robust pace last year. The unemployment rate ticked up to 5 percent from 4.9 percent, the Labor Department said Friday, but mostly for a positive reason: More people felt confident enough to start looking for work, though not all of them found jobs. As a result, more Americans were counted as unemployed.

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