Markets take weak December jobs report in stride

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Trader Kevin Lodewick, right, works on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

Trader Kevin Lodewick, right, works on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

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NEW YORK (AP) — Financial markets are taking a surprisingly weak U.S. jobs report in stride.

Stock indexes are slightly higher in early trading Friday. The Dow Jones industrial average climbed 18 points, or 0.1 percent, to 16,462.

The Standard & Poor’s 500 rose three points, 0.2 percent, at 1,841. The Nasdaq composite was up seven points, 0.2 percent, at 4,163.

The government said employers added just 74,000 jobs last month, far below what economists were looking for.

The dollar fell and bond prices rose as investors interpreted the slowdown in job creation as a signal that the Federal Reserve would keep interest rates low for a while longer.

Alcoa fell 7 percent. The aluminum company posted a $2.34 billion fourth-quarter loss late Thursday due to low aluminum prices.

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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