U.S. stocks opened lower after fresh data showed the economy added more jobs than expected in February as the unemployment rate rose. The Dow Jones Industrial Average DJIA, -0.10% was down 0.4% soon after the opening bell, while the S&P 500 SPX, -0.50% slipped 0.4% and the Nasdaq Composite COMP, -0.95% fell 0.4%, according to FactSet data, at last check. The U.S.
Bureau of Labor Statistics said Friday the economy added 311,000 jobs in February while the unemployment rate increased to 3.6% from 3.4% in January. Economists polled by The Wall Street Journal had forecast 225,000 new jobs for February. U.S. Treasury yields were down after the employment report. The yield on the 10-year Treasury note was off 15 basis points at around 3.76%, while two-year Treasury yields were trading 24 basis points lower at around 4.65%, FactSet data show, at last check.
They want you to believe the stock market is going down because new jobs are being created. In reality, the housing market is completely shutdown, the auto sector is crippled by rates, and the commercial real estate market is next to crumble
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