Friday’s trading session closed out mixed. The Dow and S&P 500 ended in the red zone. The Nasdaq posted gains. Bank of America led the Dow’s descent. Better-than-expected employment data countered renewed eurozone concerns. According to the Labor Department, the economy added 200,000 jobs in December. The result exceeded expectations of 150,000 new positions. Additionally, the unemployment rate dipped to 8.5 percent, the lowest since February 2009. Meanwhile, data from the European Commission in Brussels showed consumer sentiment in the eurozone falling to its lowest level in more than two years. Looking ahead, earnings seasons kicks off next week with quarterly details due for release from aluminum titan Alcoa.
Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.