News Summary: Stocks inch up on weak jobs report

AP News
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Posted: Sep 07, 2012 4:52 PM
News Summary: Stocks inch up on weak jobs report

DULL DAY: After hitting four-year highs a day earlier, stocks barely rose Friday. The Dow Jones and the S&P indexes each rose less than half a percentage point. The Nasdaq registered a tiny 0.02 percent gain.

HELP FROM JOBS: The government reported that 96,000 jobs were created in the U.S. last month, fewer than economists had forecast. That may have helped lift stocks since investors now think the Federal Reserve is more likely now to announce new plans to stimulate the economy at its meeting next week. Analysts at RBS said they see the likelihood of the Fed announcing new bond purchases at 90 percent.

DRAG FROM INTEL: Tech bellwether Intel dealt a blow to the market early in the day by cutting its revenue outlook because of weak demand for its semiconductors. The stock fell 90 cents, or nearly 4 percent, to $24.19.