U.S. stocks wobbled lower as Wall Street questioned whether the U.S. job market has slowed by just enough to get the Federal Reserve to cut interest rates to help the economy, or by so much that a downturn may be on the way.
After rising to an early gain Friday, the S&P 500 erased it and fell 0.3 percent from the all-time high set the day before. The Dow Jones Industrial Average dropped 0.5 percent, and the Nasdaq composite was nearly flat.
Still, more stocks rose than fell. The action was more decisive in the bond market, where yields tumbled following discouraging data on the job market.
On Friday:
The S&P 500 fell 20.58 points, or 0.3 percent, to 6,481.50.
The Dow Jones Industrial Average fell 220.43 points, or 0.5 percent, to 45,400.86.
The Nasdaq composite fell 7.31 points, or less than 0.1 percent, to 21,700.39.
The Russell 2000 index of smaller companies rose 11.43 points, or 0.5 percent, to 2,391.05.
For the week:
The S&P 500 is up 21.24 points, or 0.3 percent.
The Dow is down 144.02 points, or 0.3 percent.
The Nasdaq is up 244.84 points, or 1.1 percent.
The Russell 2000 is up 24.63 points, or 1 percent.
For the year:
The S&P 500 is up 599.87 points, or 10.2 percent.
The Dow is up 2,856.64 points, or 6.7 percent.
The Nasdaq is up 2,389.60 points, or 12.4 percent.
The Russell 2000 is up 160.89 points, or 7.2 percent.
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