Wall Street Slips as Investors Digest Jobs Numbers By Investing.com

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© Reuters.  Wall Street struggled for early direction.


© Reuters. Wall Street struggled for early direction.

Investing.com – Wall Street struggled for direction on Friday as the market considered a fall in U.S.unemployment rate to a level not seen since 1969, but also a worse-than-expected rise in nonfarm payrolls.

The was about flat, down 0.85 point, or 0.03%, to 2,900.76 as of 10:00 AM ET (14:00 GMT), while the fell 7.68 points, or 0.03%, to 26,619.80 and the tech-heavy was down 22.67 points, or 0.29% to 7,856.84.

The U.S. economy created fewer than expected in September, but reached a 48-year low, indicating the economy was nearing full employment. Meanwhile, expectations for a Federal Reserve rate increase in December rose slightly to .

After the data release, the yield on the benchmark Treasury note jumped to 3.227%, a level not seen since 2011.

Medical marijuana firm Tilray (NASDAQ:) was among the top gainers, rising 4.63%, while Snap (NYSE:) rose 1.03% after a report that its CEO set a profitability goal for 2019. Meanwhile, General Electric (NYSE:) gained 3.50% and Facebook (NASDAQ:) inched up 0.15%.

Elsewhere, Tesla (NASDAQ:) slumped 3.49% after CEO Elon Musk criticized the Securities and Exchange Commission in a controversial tweet. Apple (NASDAQ:) dipped 0.29%, while Costco (NASDAQ:) decreased 2.73%.

In Europe stocks were down. Germany’s slumped 111 points, or 0.91%, while in France the decreased 42 points, or 0.79%, and in London the was down 78 points, or 1.06%. Meanwhile the pan-European lost 21 points, or 0.63%, while Spain’s fell 51 points, or 0.55%.

In commodities, rose 0.41% to $1,206.50 a troy ounce while futures were flat at $74.33 a barrel. The , which measures the greenback against a basket of six major currencies, fell 0.14% to 95.30.

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