Markets Right Now: Syria, weak jobs leave stock market mixed

AP News
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Posted: Apr 07, 2017 4:06 PM

The latest on developments in financial markets (All times local):

4:00 p.m.

After wavering up and down all day, U.S. stock indexes wound up pretty much where they started.

U.S. missile strikes in Syria and news Friday of a slowdown in hiring last month left investors with little interest in making big moves in the market, with a handful of exceptions.

Defense contractors traded higher after the strikes. Raytheon climbed 1.5 percent and Lockheed Martin gained 1.2 percent.

Investors also bid up some high-dividend stocks like phone companies as they sought out relatively safe venues to park money.

Energy companies and banks fell.

The Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 2,355.

The Dow Jones industrial average slipped 6 points to 20,656. The Nasdaq composite slipped 1 point to 5,877.

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11:45 a.m.

U.S. stocks are wavering near breakeven in midday trading as investors turn cautious following a weak jobs report and U.S. missile strikes against Syria.

Investors are buying bonds, gold, and high-dividend stocks Friday as they seek out relatively safe venues to park money.

Defense contractors are trading higher. Lockheed Martin gained 1.3 percent and Raytheon increased 1.3 percent.

Banks and energy stocks fell.

The Standard & Poor's 500 index slipped a fraction to 2,356.

The Dow Jones industrial average was little changed at 20,664. The Nasdaq composite edged down 4 points, or 0.1 percent, to 5,874.

Rising and falling stocks were evenly split on the New York Stock Exchange.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.33 percent.

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9:35 a.m.

Stocks are edging higher in early trading as investors found some things to like in the government's latest jobs report.

The Labor Department reported early Friday that the unemployment rate fell to a nearly 10-year low of 4.5 percent.

That helped send some stocks higher. Industrial companies were posting modest gains. Union Pacific and Southwest Airlines both rose.

Bond yields edged lower, which pushed interest rates down. Capital One Financial fell 0.9 percent and U.S. Bancorp fell 0.4 percent.

The Standard & Poor's 500 index rose 1 point to 2,358.

The Dow Jones industrial average increased 9 points, or 0.1 percent, to 20,673. The Nasdaq composite was flat at 5,879.