Friday, June 5, 2009
Conflicting signals from the government's jobs report are giving investors reason to be cautious.
Stocks were mixed in midday trading Friday after initially rallying. The Dow Jones industrial average was up about 30 points, putting it barely in positive territory for the year.
The Labor Department said employers cut 345,000 jobs in May, significantly less than the half-million economists predicted. But the unemployment rate surged to a higher-than-expected 9.4% from 8.9% in April.
The Dow is up 38.66, or 0.4%, at 8,788.90. The Standard & Poor's 500 index is down 0.06, or less than 0.1%, at 942.40. The Nasdaq composite index is down 0.70, or less than 0.1%, at 1,849.32.