There was something of a random walk down Wall Street today but it ended in the red-ink districts. The jobs report was poor and initially the market took that as good news due to more rate cuts being priced in. Later, that sentiment reversed and recession fears hit, leading to a sizeable swing to the downside. Late in the day though, the bidders showed up as they have been all week and lifted the S&P 500 to only a moderate loss.
The rate-sensitive Russell 2000 finished higher on a lift from financials while the Nasdaq was flat.
Closing changes on the day:
- S&P 500 -0.36%
- Nasdaq Comp flat
- Russell 2000 +0.45%
- DJIA -0.5%
- Toronto TSX Comp +0.45%
On the week:
- S&P 500 +0.3%
- Nasdaq Comp +1.4%
- Russell 2000 +1.0%
- DJIA -0.3%
- Toronto TSX Comp +1.7%
This article was written by Adam Button at investinglive.com.
