Major stock indexes on Wall Street closed mostly lower Friday, though a rally in Big Tech companies nudged the Nasdaq composite to another all-time high.
“Investors are saying, ‘Looks like this transition from reopening to a reopened economy is going to take a little bit longer,’” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.The S&P 500 slipped 1.52 points to 4,535.43. The Dow Jones industrial average fell 74.73 points, or 0.2%, to 35,369.09. The Nasdaq composite rose 32.34 points, or 0.2%, to 15,363.52, its third straight gain. The technology-heavy index also posted a weekly gain.
The August job gains fell far short of the big gains in June and July of roughly 1 million a month. Those gains followed widespread vaccinations that allowed the easing of many pandemic restrictions.
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