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S&P 500, Dow slip as monthly jobs growth slows; tech stocks lift Nasdaq

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The S&P 500 and the Dow fell on Friday as a slowdown in U.S. jobs growth raised questions about the pace of the economic recovery, while the tech-heavy Nasdaq rose as the report also calmed fears of an imminent tapering in monetary policy.

, which generally perform better when bond yields are higher, dropped 0.6% even as the benchmark 10-year Treasury yield jumped following the report.

"You can tell because leisure and hospitality didn't add any jobs and retail actually lost jobs. Investors will conclude that perhaps this will put the further on hold in terms of the timing of tapering. Markets may be okay with that."

 

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