Stocks slip after job creation falls short
US economy adds 199K in December
The Labor Department releases the December 2021 jobs report. FOX Business’ Cheryl Casone with more.
U.S. stocks fell after employers added fewer workers than expected last month.
The Dow Jones Industrial Average fell over 40 points or 0.11%, while the S&P 500 and Nasdaq Composite dipped 0.08% and 0.2%, respectively.
|I:DJI||DOW JONES AVERAGES||36212.63||-23.84||-0.07%|
|I:COMP||NASDAQ COMPOSITE INDEX||15036.546896||-44.32||-0.29%|
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Nonfarm payroll employment rose by 199,000 in December less than the 400,000 economists were expecting even as the unemployment rate dipped to 3.9%. "Leisure and hospitality, in professional and business services, in manufacturing, in construction, and in transportation and warehousing" added workers according to the Labor Department.
Bonds continued to climb. The yield on the 10-year Treasury rose to 1.73%, the highest level since March.
FED, OPEC'S PUNY PRODUCTION MOVES PUSHES OIL TO $80
Oil briefly topped the $80 per barrel level putting oil producers on the radar.
|USO||UNITED STATES OIL FUND L.P.||56.86||-0.03||-0.05%|
|BNO||UNITED STS BRENT OIL FD LP UNIT||22.00||+0.02||+0.09%|
|XOM||EXXON MOBIL CORP.||68.56||+0.24||+0.35%|
JOBLESS CLAIMS TICK UP TO 207,000 BUT REMAIN NEAR HALF-CENTURY LOW
In stocks, shares of GameStop Corp jumped after a Wall Street Journal report said the retailer is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships.
GAMESTOP SHARES SURGE ON PLANS TO ENTER NFT AND CRYPTOCURRENCY MARKETS
Big tech signaled a recovery from several days of selling with Apple, Amazon and Microsoft higher.
Separately, Apple CEO Tim Cook may nearly $100 million in compensation last year, per SEC filings.