Friday’s session closed in the red zone. American Express, Bank of America and Hewlett-Packard led the Dow’s descent. Brands dipped amid the release of less-than-stellar employment and manufacturing data. May jobs numbers failed to impress. The Labor Department said the economy added 69,000 jobs last month. The result was far short of the 150,000-plus jobs economists were anticipating. Additionally, the unemployment rate edged up to 8.2%. Economists were expecting the rate to hold steady at 8.1%. Meanwhile, manufacturing activity retreated in May. The Institute for Supply Management’s manufacturing index slipped to 53.5 from 54.8 in April, shy of expectations for a reading of 54. On another note, consumer spending increased slightly in April. Spending was up 0.3%, from a 0.2% jump in March. Personal income was up by 0.2% in April, down from a 0.4% rise in March. Elsewhere, crude oil shed $3.19 to settle at $83.34 a barrel.
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