Jobs Report Adds Uncertainty to Taper Plans; Stocks End Mixed
Despite growing concerns over Syria and a disappointing jobs report, stocks were able to mostly end higher for a fourth day this week. The Dow ended its four-week losing streak, the longest since last November. Less jobs were added in August than expected, possibly complicating the Federal Reserve's tapering expectations. ETrade (ETFC) gained 4.6% after its shares were upgraded by Goldman Sachs to "buy." Quiksilver (ZQK) rallied after reporting earnings that beat expectations, even though Q3 profit fell by 84%.Oil prices shot up again on Friday to $110 a barrel. This pushes oil closer to its 52-week high.
Word on the Street
- Labor participation in the US is at the lowest since 1978.
- A slowdown in demand for homes may be opening the door for first-time buyers.
- Quiksilver (ZQK) jumps 32% after better-than-expected reports.
- We all know the big question - how quickly will the Fed slow down stimulus?
- Oil futures rally and end near the highest level since May of 2011.
- Guess (GES) Crushes Earnings Expectations.
Published on Sep 6, 2013By InvestorGuide Staff