Despite a stronger-than-expected jobs report, the S&P 500 closed flat on Friday, having reached a record high intraday. The broad market index fell 0.11% to 5,346.99, after touching an all-time high earlier in the session.
The Dow Jones Industrial Average fell 87 points, reaching 38,798.99. The Nasdaq Composite fell 0.23% to close the session at 17,133.13. Each of the three major averages had a winning week.
The Dow gained 0.29%, the S&P 500 gained about 1.32%, and the Nasdaq surged 2.38%.
Stocks are recovering from early-session pressure following Friday’s jobs report. This announcement raised the benchmark 10-year Treasury rate by more than 15 basis points.
Source (CNBC)
