Dow opens slightly lower, Nasdaq rises after much weaker-than-expected jobs report
Stocks opened mixed Friday, with the Dow Jones Industrial Average losing ground and the tech-heavy Nasdaq Composite jumping to the upside after a much-weaker-than-expected April jobs report. The Dow fell 72 points, or 0.2%, to 34,477, while the S&P 500 was up 1 point at 4,203. The tech-heavy Nasdaq Composite rose 65 points, or 0.5%, to 13,698. The Labor Department reported that the economy added 266,000 jobs (http://www.marketwatch.com/story/u-s-gains-disappointing-266-000-jobs-in-april-but-all-signs-still-point-to-faster-hiring-in-months-ahead-11620391689) in April, far short of the consensus forecast for a rise of 1 million. Treasury yields fell in reaction to the data, while rate-sensitive tech and growth stocks rallied, helping to lift the Nasdaq.
-William Watts; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 07, 2021 09:32 ET (13:32 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.