US stocks mostly down as market weighs good jobs data

GMT 20:28 2015 Friday ,05 June

Arab Today, arab today US stocks mostly down as market weighs good jobs data

Dow Jones Industrial Average
New York - AFP

Wall Street stocks finished mostly lower Friday after a strong US jobs report sparked talk that the Federal Reserve would move more quickly to raise interest rates.

At the closing bell, the Dow Jones Industrial Average was at 17,850.19, down 55.39 points (0.31 percent).

The broad-based S&P 500 dropped 3.03 (0.14 percent) to 2,092.81, while the tech-rich Nasdaq Composite Index advanced 9.33 (0.18 percent) to 5,068.46.

The US economy pumped out 280,000 jobs in May, far more than expected in a solid sign of growth after a winter stall. The report also showed better wage growth, in an indication of tightening for the labor market.

"Now that there is good news and a chance the Fed takes the punch bowl, the question is: Are stocks vulnerable? The answer is maybe," said Mace Blicksilver, director at Marblehead Asset Management.

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