Stock Market News For Oct 9, 2017
Zacks Investment Research | Oct 08, 2017 09:17PM ET
Markets closed mostly lower on Friday as the nonfarm payrolls report showed that the U.S. economy lost a staggering number of jobs in September. The Dow and the S&P 500 ended their seven and six day streak of gains respectively. Meanwhile, the unemployment rate touched its lowest level since 2000.
The Dow Jones Industrial Average (DJIA) closed at 22,773.67, declining about 2 points. The S&P 500 Index (INX) decreased 0.1% to close at 2,549.33. Meanwhile, the Nasdaq Composite Index (IXIC) closed at 6,590.18, increasing 0.1%. Declining issues outnumbered advancers on the NYSE by 1.99-to-1 ratio. On the Nasdaq, decliners outnumbered advancers by 1.22-to-1 ratio. The CBOE VIX increased 8.3% to close at 9.95.
Benchmarks End their Winning Streak
The S&P 500 ended its eight-day streak of gains on Friday. This marked its longest consecutive daily gains in the last four years and its longest run of record closes since 1997. Of the 11 major sectors of the S&P 500, eight ended in the negative territory, with consumer staples and energy sectors leading the decliners. The Consumer Staples Select Sector SPDR ETF (NYSE:XLP) (XLP) decreased almost 1% and the Energy Select Sector SPDR ETF (NYSE:XLE) (XLE) was down 0.9%.
The Dow also snapped its seven-day streak of gains after declining 1.72 points. Shares of both Chevron Corp. (NYSE:CVX) and Boeing (NYSE:BA) declined 1.3% and 0.1%, respectively and were the biggest drags on the Dow. Meanwhile, the Nasdaq could manage meager gains after advancing almost 5 points to close at a record at 6,590.18. Both the companies possess a Zacks Rank #3 (Hold). You can see Zacks Investment Research
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