Unemployment Remains Flat For December While S&P Ends Near Bull Market High

Stocks made gains on Friday that pushed the S&P 500 to its highest closing level since 2007. The Dow and Nasdaq also climbed but the S&P is the first of the three major indices to cross back over to its bull market high. Today's jobs report was much anticipated, but disappointingly showed that monthly employment growth in 2012 was the same as in 2011. Economic uncertainty remains despite several small pieces of information such as gains in manufacturing and construction and growth in wages. Analysts have cut their forecasts for the tech, financial and materials sectors for the most recent quarter.
After the bell Apple (AAPL) dropped 2.8%, becoming the top decliner for the S&P on Friday. US Treasury yields rose to eight-month highs sending bond prices lower. The dollar ended stronger against the Japanese yen and reached close to a 2-1/2 year high.

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Published on Jan 4, 2013
By InvestorGuide Staff

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