Stocks Close Lower After Weak Jobs Report….Schoenberger quoted on CNBC.com
Stocks eased off their worst levels in the final hour of trading, but still finished firmly in the red Friday on the heels of a disappointing June government jobs report.The Dow and the S&P 500 posted weekly losses, while the Nasdaq managed to eke out a gain for the fifth-consecutive week.
The Dow Jones Industrial Average tumbled 124.20 points, or 0.96 percent, to close at 12,772.47, led by Caterpillar [CAT 84.61 -2.18 (-2.51%) ] and H-P [HPQ 19.57 -0.71 (-3.5%) ].
The S&P 500 fell 12.90 points, or 0.94 percent, to end at 1,354.68. TheNasdaq dropped 38.79 points, or 1.30 percent, to finish at 2,937.33.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, ended near 17.Read More