News Summary: Stocks drop on weak jobs report

AP News
Posted: Apr 05, 2013 5:26 PM

DISAPPOINTING JOBS: Stocks fell after the government reported a sharp slowdown in hiring last month. The report was worse than economists were expecting.

SAFETY FIRST: Utilities and telecommunication industries bucked the downward trend and rose as investors sought out companies with rich dividends and stable earnings.

PLANES, TRAINS AND FEDEX: The Dow Jones Transportation Average, which includes airlines like United and Delta Air Lines and shipping companies like UPS and FedEx, was down 3.5 percent for the week, its worst weekly decline since September. The index is seen as a leading indicator of the broader market.