NATIONAL
Wall Street struggled to the finish Friday, closing out the week barely changed after a steep dip in monthly job growth left investors confused about the economy’s health. The major indexes were narrowly mixed for the week.
The Labor Department said employers added 75,000 jobs in May versus a 126,000 gain for April. But while the sharply less-than-forecast increase was a sign of tapering economic growth – which could prompt the Federal Reserve to stop lifting interest rates – the mild figure raised questions about whether the economy was moderating too quickly.
According to preliminary calculations, the Dow Jones industrial average dropped 12.41, or 0.11 percent, to 11,247.87. The Dow rose 166 points on Wednesday and Thursday. Broader stock indicators fluctuated. The Standard & Poor’s 500 index edged up 2.51, or 0.2 percent, to 1,288.22; the Nasdaq composite index fell 0.45, or 0.02 percent, to 2,219.41, but remained positive for the year.
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Electronic Clearing House Inc. rose 7 percent to $14.30. Cogent Inc. added 6 percent to $16.18. Eniva Systems Inc. was up 6 percent to $4.40. Peerless Systems Corp. gained 5 percent to $6.67. Electro Rent Corp., which CNBC host Jim Cramer discussed during his Thursday program, was up 4 percent to $16.65. UTIU Worldwide Inc., which was raised to “outperform” from “peer perform” by analyst Edward Wolfe at Bear Stearns & Co, with a price target of $34 per share, rose 2.6 percent to $28. Napster Inc., which was rated a “hold” in new coverage by analyst Mark Harding at Maxim Group LLC, rose 0.61 percent to $3.30.
EMAK Worldwide Inc. dropped 4.75 percent to $6.01. XXIA lost 4 percent to $10.29. Crown Media Holdings Inc. was down 3.2 percent to $4.21.