US stocks close lower after NFP
|US stocks retreated on Friday amid concerns the US economy may not be as healthy as previously thought in the light of ugly employment figures.
The Dow Jones Industrial Average lost 31 points, or 0.18%, to 17,807, posting a weekly loss of 0.4%. The S&P 500 dropped 6 points, or 0.29%, to 2,099, closing the week flat. The Nasdaq fell 29 points, or 0.58%, to close at 4,942, but still gained 0.2% for the week.
Nonfarm payrolls showed US economy added only 38,000 new jobs in May, the weakest performance since September 2010 and well below expectations of a 164,000 gain. The unemployment rate however, fell to 4.7% in May from 5.0% in April.
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