by Shristi Achar A and Noel Randewich
(Reuters) – The New York Stock Exchange ended in mixed order on Friday after the release of employment data showed that the labor market in the United States remains solid, despite some signs of deterioration.
The Dow Jones Industrial Average gained 0.33%, or 115.8 points, to 34,837.71 points.
The broader S&P-500 gained 8.11 points, or 0.18%, to 4,515.77 points.
The Nasdaq Composite fell for its part by 3.15 points (-0.02%) to 14,031.82 points.
The Labor Department’s report for August showed the jobless rate rose to 3.8%, bolstering expectations that the US Federal Reserve (Fed) will keep rates unchanged this month. .
“The data supports a loosening of monetary policy from the Fed as we head into the fall. If the end of the tightening comes sooner than expected, it could lead to a substantial market rally,” he said. Keith Buchanan, portfolio manager at GLOBALT Investments in Atlanta.
In stocks, Walt Disney and Charter Communications fell after the two companies railed against each other over a distribution deal, dragging other companies in the sector such as Warner Bros. Discovery, Paramount Global and Fox Corp.
Tesla also fell after slashing the price of some of its models.
Lululemon Athletica advanced after raising its revenue forecast.
Markets will be closed on Monday in the United States due to “Labor Day”, which traditionally marks the end of the summer holiday period.
(With contributions from Amruta Khandekar and Sruthi Shankar; Camille Raynaud)
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