Stocks mixed, Treasury yields drop after jobs data
NEW YORK (AP) – Stocks are trading in a tight range after a disappointing report on the jobs market is renewing concern about the health of the economy.
But traders also see the report as adding to the likelihood the Federal Reserve will take action to further stimulate the economy. Such a move by the Fed could eventually make stocks more enticing investments, which has limited Wednesday’s disappointment.
Any Fed action would likely include the purchase of Treasury bonds, which has driven their price higher and yields lower.
The Dow Jones industrial average is down 1, or less than 0.1 percent, at 10,944. The S&P 500 is down 1, or 0.1 percent, at 1,160, while the Nasdaq composite is down 7, or 0.3 percent, at 2,393.
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