US stocks fall in volatile trade as investors weigh cooler job gains against high wage growth
US stocks finished lower on Friday amid volatile trade and capped weekly losses as Wall Street digested the latest jobs report.
The Labor Department reported 209,000 new jobs were created, below expectations, after ADP's payroll report Thursday showed blowout gains. However, the government's report Friday also found that wage growth saw a 4.4% jump on an annual basis, which could prompt the central bank to continue lifting interest rates to rein in inflation.
Stocks seesawed between losses and gains over the course of the day before closing lower. For the week, the S&P 500 lost 1.16%, the Nasdaq declined 0.92%, and the Dow sank 1.96%.
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