Stocks end mixed as investors warily eye jobs report, Ukraine tension


Stocks finished mostly lower in choppy trading, as investors pulled back to take profits after early gains sparked by the better than expected nonfarm payrolls report.

The situation in Ukraine kept investors on edge, after Crimea's legislators voted Thursday to secede from Ukraine and join Russia, and reports today of a Ukranian military base in Crimea under siege by Russians.

Some traders said the intraday pullback appeared to be more the result of a lack of buying than any meaningful selling on a relatively low-volume day.

The S&P 500 held up relatively well thanks to the relative strength of the financial sector, which continued its recent outperformance; biotechs lagged for the second day in a row, which fueled much of the Nasdaq weakness.

Treasury bond prices fell, capping the biggest weekly selloff in three months; the 10-year yield finished ~2.79% after reaching a six-week high of 2.821%.

Comments (1)
  • Patent News
    , contributor
    Comments (1475) | Send Message
     
    big bio-techs are overpriced... smaller and mid-sized ones still have a lot of opptys...
    7 Mar 2014, 04:23 PM Reply Like
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