Home > Article
VOL. 47 | NO. 28 | Friday, July 7, 2023
Wall Street drifts after jobs report comes in warm but hopefully not too hot
NEW YORK (AP) — Wall Street drifted to a mixed close after data suggested the U.S. job market is still warm enough to keep the economy growing but maybe not so hot that it stokes inflation much higher.
The S&P 500 gave up a midday gain and ended 0.3% lower Friday. The Dow fell 187 points, or 0.6%, and the Nasdaq composite slipped 0.1%. Small-company stocks rose.
Much is riding on whether the economy can navigate the narrow pathway to avoid a long-predicted recession. Friday's report showed that employers added fewer jobs in June than in May, not far off economists' expectations.
Treasury yields were mixed.