US Stocks end Higher, but Post Second Weekly Loss in a Row
US stocks reversed early losses and managed to close the day with gains,
although main Wall Street indexes posted the second weekly loss in a
row.
The Dow Jones gained 79.92 points, or 0.45%, to close at
17,740.63. The S&P 500 rose 6.51 points, or 0.32%, to 2,057.14. The
Nasdaq Composite advanced 19.06 points, or 0.40%, to finish at 4,736.16.
Early
weakness was unleashed by a disappointing employment reading. The
nonfarm payrolls report showed US economy added 160K new jobs in April,
below the 200K expected, while previous months’ gains were downwardly
revised.
However, stocks managed to turn positive as investors
focused on the possibility the Fed might delay next rate hike on the
back of softer-than-expected jobs data.
