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Markets take weak December jobs report in stride

Published January 10, 2014 8:44 am

This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

New York • Financial markets are taking a surprisingly weak U.S. jobs report in stride.

Stock indexes are slightly higher in early trading Friday. The Dow Jones industrial average climbed 18 points, or 0.1 percent, to 16,462.

The Standard & Poor's 500 rose three points, 0.2 percent, at 1,841. The Nasdaq composite was up seven points, 0.2 percent, at 4,163.

The government said employers added just 74,000 jobs last month, far below what economists were looking for.

The dollar fell and bond prices rose as investors interpreted the slowdown in job creation as a signal that the Federal Reserve would keep interest rates low for a while longer.

Alcoa fell 7 percent. The aluminum company posted a $2.34 billion fourth-quarter loss late Thursday due to low aluminum prices.