Stocks Open Mixed Following Weak US Jobs Report
NEW YORK - Stocks are opening mixed on Wall Street following news that the U.S. economy added fewer jobs than expected in August.
The Dow Jones industrial average is up nine points at 13,301 shortly after the opening bell Friday. The Standard & Poor’s 500 is up two at 1,434 and the Nasdaq is down seven at 3,129.
The government reported that 96,000 jobs were created in the U.S. last month, fewer than economists were expecting. The unemployment rate fell to 8.1 percent from 8.3 percent, but only because more people gave up looking for work.
Tech bellwether Intel dealt the market a blow by cutting its revenue outlook because of weak demand for its semiconductors.
Overseas, a bond-buying plan from the European Central Bank continued to lift financial markets.