Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the closing bell on October 2, 2019 in New York City.
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Dow Jones Industrial Average falls 133 points
The Dow slid 133.13 points, or 0.46%, to 28,823.77 after briefly breaking above 29,000 for the first time. The S&P 500 dipped 0.29% to 3,265.35. The Nasdaq Composite slid 0.27% to end at 9,178.86. Wall Street slipped from record highs after disappointing jobs data was released to end a wild week.
US jobs report misses
The U.S. economy added just 145,000 jobs last month. That’s below the Dow Jones estimate of 160,000. Wages also grew at a slower-than-expected pace in December. Still, the data was not weak enough to sound any alarms about the state of the U.S. economy. Friday’s muted action was also in stark contrast to the rest of the week as investors dealt with the uncertainty arising from U.S.-Iran tensions.
Netflix and Amazon drop, Apple dips from record
Netflix and Amazon shares slid 1.97% and 0.94%, respectively, contributing to the broader market’s losses. Apple finished the session down 0.23%, slipping from a record high.
What happens next?
Investors will turn their attention to U.S.-China trade relations next week as both countries get set to sign “Phase One” of their trade deal. The big banks will also kick off the corporate earnings season next week.
Wall Street slipped from record highs after disappointing jobs data was released to end a wild week.