Wall Street dips after two-day run, jobs data
Source: Reuters
BY CHUCK MIKOLAJCZAK
U.S. stocks edged lower on Friday, after a two-day rally in equities put the S&P 500 back in positive territory for the new year as investors assessed a stronger-than-expected monthly payrolls report.
Nonfarm payrolls increased 252,000 in December, topping expectations for a rise of 240,000, while November's outsized 321,000 gain was revised higher to 353,000. The unemployment rate fell 0.2 percentage point to a 6-1/2 year low of 5.6 percent.
Futures traded lower ahead of the payrolls data, then trimmed losses to turn slightly positive after the release.
Data separately showed wholesale inventories rose 0.8 percent in November, topping expectations calling for a 0.3 percent increase, suggesting restocking may boost fourth-quarter growth.
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Read more: http://www.reuters.com/article/2015/01/09/us-markets-stocks-us-idUSKBN0KI16620150109
