Friday, June 5, 2009
With unemployment still rising, investors are questioning if stocks should be, too.
Stocks are finishing little changed after the government reported a surprising drop in job losses for May but also a spike in the unemployment rate to 9.4%. It was the highest rate in more than 25 years.
The Dow Jones industrial average is closing up 12.89 points, or 0.2%, at 8,763.13.
The Standard & Poor's 500 index is down 2.37, or 0.3%, at 940.09, according to preliminary calculations. The Nasdaq is down 0.60, or less than 0.1%, at 1,849.42.
At times on Friday, the Dow traded in positive territory for the year, but the unemployment rate's jump was tough to ignore. The Dow is down just 0.2% from where it started 2009.