U.S. stocks rebounded Friday after Thursday's heavy sell-off despite a worse-than-expected jobs report.
The Labor Department said payrolls shrank by 84,000 last month, more than the 75,000 economists predicted, and higher than the 51,000 jobs lost in July. The unemployment rate rose to a five-year high of 6.1 percent from 5.7 percent.
The report renewed investors' concerns that the U.S. economy continues to weaken. The nation has lost nearly 550,000 jobs so far this year.
However, major indexes rebounded as shares of banks and insurers rose after the heavy sell-off Thursday.
The Dow Jones industrial average rose 32.73, or 0.29 percent, to 11,220.96. The Standard & Poor's 500 index rose 5.48, or 0.44 percent, to 1,242.31, and the Nasdaq composite index fell 3.16, or0.14 percent, to 2,255.88.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article