Dow Closes Down 2, Nasdaq Down 7

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Wall Street got what it wanted Friday – Labor Department data showing slower job growth – but cautious investors pushed stocks modestly lower, unwilling to trust that the report was enough to keep the Federal Reserve from raising interest rates next week, the Associated Press reports. The major indexes closed out the week little changed. The economy created 113,000 jobs last month, far less than the 145,000 expected by economists and down from 121,000 created in June. Unemployment rose to 4.8 percent from 4.6 percent, and wage growth was constant at 0.4 percent.


According to preliminary calculations, the Dow Jones industrial average fell 2.24, or 0.02 percent, to 11,240.35 – a 104-point swing from its intraday high early in the session.

Broader stock indicators also lost ground. The Standard & Poor’s 500 index lost 0.91, or 0.06 percent, to 1,279.36, while the tech-focused Nasdaq composite index dropped fell 7.29, or 0.35 percent, to 2,085.05 after Apple Computer Inc. said it would have to restate earnings due to stock option accounting issues.


Read the full Associated Press story

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Today’s Winners & Losers


Emak Worldwide finished up 9 percent to $3.82 while True Religion Apparel rode strong earnings to gain 7.9 percent to close at $18.90 and Southwest Water Co. finished up 4.7 percent to close the week out at $12.95.


On the other end were American Reprographics Co., which lost 7 percent and closed at $32.07 along with WPT Enterprises, who lost 6.5 percent to close at $3.72 and Herbalife Ltd. closed the day down 5.1 percent to end the week at $30.74 a share.

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