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The market endured a choppy session Friday, and ended the day basically where it started. The Dow Jones Industrial Average rose 5.7 points (+0.04%), Standard & Poor's 500 index lost 2.9 points (-0.18%), and the Nasdaq finished down 2.9 points (-0.11%). Volume was not significant at 1.19 billion shares, and there were nearly the same amount of decliners as advancers.

Nonfarm payrolls came in stronger than expected with a 94,000 increase (full story), beating economists' forecasts of 80,000. Unemployment held steady at 4.7%. Though futures were up after the release, the news might have been good enough to deter the Fed from making the 50 basis point cut that some are hoping for, and led to an up and down session. The University of Michigan's consumer sentiment came in below expectations with the second worst reading in 15 years (full story). The US 10-year Treasury note fell 25/32 in price, now yielding 4.10%.

Sector performance was mixed with transportation (+1.2%) having the strong day. The main reason for those gains was crude lost $1.95 and traded down to $88.28. Macrovision (MVSN, -21.4%) announced plans to buy Gemstar-TV Guide (GMST, -16.6%) for $2.8 billion (full story), but investors did not like the move for either company. Merrill Lynch (MER, +0.15%) downgraded Capital One (CF, -5.0%), American Express (AXP, -4.3%), and Discover (DFS, -3.2%) to sell from neutral (full story).

Though Friday's session was mixed, for the week, the Dow (+1.9%), S&P (+1.6%), and Nasdaq (+1.7%) all had nice gains heading next week's Fed meeting.

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