US stocks end week lower


New York: All three major Wall Street indexes closed lower despite solid US jobs data.

The Dow Jones Industrial Average was down 277.26 points, or 0.94 per cent, to 29,102.51 on Friday. The S&P 500 fell 18.07 points, or 0.54 per cent, to 3,327.71. The Nasdaq Composite Index was down 51.64 points, or 0.54 per cent, to 9,520.51, Xinhua reported.

Most of the 30 Dow component companies traded in red territory, with Caterpillar and Dow being the top two laggards and declining 2.83 per cent and 2.38 per cent, respectively.

Eight of 11 primary S&P 500 sectors traded lower, with materials and information technology shedding 1.46 per cent and 0.98 per cent, respectively, leading the laggards.

On the data front, US total nonfarm payroll employment rose by 225,000 in January, and the unemployment rate was little changed at 3.6 per cent, the US Labour Department said Friday.

Notable job gains occurred in construction, health care, and in transportation and warehousing, the department said.


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