Stocks slipped and Treasury yields rose sharply after the government released a jobs report whose headline numbers came in hotter than expected. Overall, the report suggests markets may have to wait even longer for interest rate cuts from the Federal Reserve.
The S&P 500 ended 0.1% lower Friday after giving up a midday gain. The Dow Jones Industrial Average fell 0.2% and the Nasdaq composite fell 0.2%.
GameStop, the struggling video game retailer at the center of the current meme stock craze, plunged 39% after reporting another loss and announcing plans to sell up to 75 million more shares.
On Friday:
The S&P 500 fell 5.97 points, or 0.1%, to 5,346.99.
The Dow Jones Industrial Average fell 87.18 points, or 0.2%, to 38,798.99.
The Nasdaq composite fell 39.99 points, or 0.2%, to 17,133.13.
The Russell 2000 index of smaller companies fell 22.89 points, or 1.1%, to 2,026.55.
For the week:
The S&P 500 is up 69.48 points, or 1.3%.
The Dow is up 112.67 points, or 0.3%.
The Nasdaq is up 398.11 points, or 2.4%.
The Russell 2000 is down 43.57 points, or 2.1%.
For the year:
The S&P 500 is up 577.16 points, or 12.1%.
The Dow is up 1,109.45 points, or 2.9%.
The Nasdaq is up 2,121.77 points, or 14.1%.
The Russell 2000 is down 0.52 points, or less than 0.1%.
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