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Markets sputter on jobs report

Jan. 10, 2014 at 5:56 PM   |   Comments

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NEW YORK, Jan. 10 (UPI) -- U.S. markets were flat Friday after the Labor Department issued a disappointing jobs report for December.

The unemployment rate dropped from 7 percent to 6.7 percent in December, largely due to the number of people giving up on finding a job. In the month, 74,000 jobs were added to the economy, far fewer than the 200,000 new jobs economists had expected.

The blue-chip Dow Jones industrial average dropped 8.16 points or 0.05 percent to 16,436.60. The Standard & Poor's 500 added 4.24 points, 0.23 percent, to close at 1,842.37.

The Nasdaq added 18.47 points, 0.44 percent, to 4,174.66.

On the New York Stock Exchange, 2.8 billion shares were traded, with 2,211 issues advancing and 892 declining.

In Europe, London's FTSE 100 added 48.60 points, 0.73 percent, to close at 6,739.94.

In Japan, the Nikkei 225 closed at 15,912.06 points, up 31.73 points, or 0.2 percent.

The 10-year U.S. treasury was yielding 2.866 percent, up 27/32.

The euro traded lower at $1.3662 and the dollar was marginally lower against the yen at 104.07 yen.

Gold added $15.10 to hit $1,244.50 an ounce on the Comex division of the New York Mercantile Exchange. Silver added 42.2 cents to reach $20.105.

Crude oil was up $1.13 in late trading at $92.77 per barrel.

On the Chicago Board of Trade, March corn added 19.75 cents to $4.3175 per bushel. Soybeans gained 4 cents to $12.7775. Wheat shed 13.75 cents to $5.705.

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