Summary Box: Weak jobs report sends stocks lower

AP News
|
Posted: Jul 08, 2011 5:21 PM
Summary Box: Weak jobs report sends stocks lower

JOBS: Stock indexes fell sharply Friday, erasing most of the week's gains, after the government reported that U.S. employers created the fewest number of jobs in nine months. The 18,000 net jobs in created in June were a fraction of what many economists expected.

EARNINGS: Aluminum maker Alcoa Inc., one of the 30 companies in the Dow average, will be the first major corporation to report second-quarter financial results on Monday.

THE INDEXES: The Standard and Poor's 500 index fell 9.42 points, or 0.7 percent, to 1,343.80.The Dow Jones industrial average lost 62.29, or 0.5 percent, to 12,657.20.The Nasdaq composite dropped 12.85, or 0.4 percent, to 2,859.81.