Stocks end mostly higher after jobs data, remarks by Fed's Powell
Saturday, 7 September 2019 03:14 WIB | MARKET UPDATE |DOW JONESS & P 500Indeks NasdaqSahamAS

Stocks capped a positive week with small gains, maintaining a tight trading range Friday following a weaker-than-expected August jobs report and remarks by Federal Reserve Chairman Jerome Powell.

The Dow Jones Industrial Average rose around 70 points, or 0.3%, to end near 26,798, according to preliminary figures, while the S&P 500 rose around 3 points, or 0.1%, to finish near 2,979. The Nasdaq Composite bucked the trend, losing around 14 points to close near 8,103, off 0.2%.

The Dow saw a weekly rise of 1.5%, while the S&P 500 and Nasdaq each gained around 1.8%. August nonfarm payrolls showed a rise of 130,000, short of the 170,000 expected, on average, by economists. The unemployment rate was unchanged at 3.7%. In closely watched remarks in Zurich, Switzerland, Powell said the August data fit into an overall picture of a healthy jobs market and economy. Economists said the August data virtually assured the Fed would deliver a quarter-point rate cut when policy makers meet later this month.

Source : Marketwatch


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