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DJIA Retreats as Dismal Jobs Report is Celebrated on S&P 500, NASDAQ

By  +Follow January 10, 2014 2:06PM
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Stocks on Wall Street ended mostly higher on Friday to conclude the first full week of trading in 2014, with the Dow Jones Industrial average beating a slight retreat into negative territory.

The Standard & Poor’s 500 was up almost a quarter of a percent to 1,842.37 points, while the NASDAQ was up 0.44 percent to close at 4,174.66 points. The Dow Industrials were off by 0.05 percent to 16,037.05 by the closing bell.

The Department of Labor’s much-anticipated jobs report for the month of December came as a big surprise for Wall Street, as the nation added a mere 74,000 jobs during the period, well short of expectations for an addition of 193,000 jobs. The surprise was all the more significant given ADP’s (ADP) surprisingly great private sector jobs report earlier in the week.

Despite the miss on job creation, the unemployment rate in the US declined once again, to 6.7 percent, but stocks for the most part were not affected by concerns over the possibility that the Federal Reserve will be more willing to cut back on stimulus spending as the unemployment rate inches closer to the Central Bank’s 6.5 percent target rate.

After what could reasonably be described as a tough week, big tech stocks rallied on the day to lift the S&P 500 higher. Facebook (FB) , Microsoft (MSFT) , Micron Technology (MU) , Juniper Networks (JNPR) , and Cisco Systems (CSCO) all gained on the some of the day’s heaviest trading.

The Dow Industrials ended lower, at least in part as a result of the coming earnings season. Oil giant Chevron (CVX) was the benchmark index’s worst performer, dropping almost 2 percent by the end of trading after releasing an underwhelming update on it’s fourth-quarter numbers. Health insurance provider Unitedhealth Group (UNH) was not far behind, also down almost 2 percent, in reaction to news of the likelihood of greater than expected funding cuts for the Medicare Advantage program.

On the NASDAQ, the story was once again all about healthcare and tech stocks, as Intercept Pharmaceuticals (ICPT) continued to tear upwards, adding another 60 percent by the close after nearly tripling its share-price the previous day. Meanwhile, Sangamo BioSciences rose one percent, hitting a 10-year high on news of a forthcoming deal with Biogen Idec (BIIB) to develop treatments for hemoglobin disorders.

Electronics manufacturer Plug Power Inc. (PLUG) added another 10 percent after sustaining losses the previous day. The stock is up 40 percent on the week. Semiconductor manufacturer Atmel Corporation (ATML) added over 5 percent ahead of the close, and Intel (INTC) added almost 1 percent by the close.

Investors with a taste for IPOs will want to make sure to have a look at Equities.com Executive Editor Henry Truc’s analysis of the rhyme & reason behind Darden Restaurants’ (DRI) upcoming decision to spin-off its ailing Red Lobster chain.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for ADP
12Stocks.com
24 Oct 14 08:51:57
Nasdaq100 #Stocks Trend $AMAT $GILD $CMCSA $CELG $CA $REGN $STX $YHOO $ILMN $LBTYA $FISV $CHTR $ALXN $CHKP $ADP @ http://t.co/YdSIjG11yN
BlackCabbieTrader
24 Oct 14 04:56:00
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monestsignalen
24 Oct 14 01:56:03
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holycharts
23 Oct 14 20:00:03
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Nine Stocks
23 Oct 14 18:00:35
MA10-MA50 Bull Crossover Stocks (Oct. 23): $ADP, $CHRW, $HLF, $MJN, $NCT, $WTW http://t.co/4VugqJZD61
lord of trading
23 Oct 14 15:10:04
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Despicable Draghi ™
23 Oct 14 14:56:33
$SPX new 52WK members: $AAPL - HIGH $ADP - HIGH $ALXN - HIGH $AMGN - HIGH $BCR - HIGH $BMS - LOW $CELG - HIGH $CHRW - HIGH $CMS - HIGH
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Ravi Romo
23 Oct 14 06:44:40
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Bertha Coombs
23 Oct 14 06:39:08
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Large Void Bot
23 Oct 14 06:31:24
New 52wk Highs: $ADP $AMGN $INFN $SCSS $VTR
US Banking News
23 Oct 14 06:08:36
Brokerage Give Consensus Hold Rating to Automatic Data Processing $ADP http://t.co/r6IUjPn0Od
DR JAMES CABOT
23 Oct 14 05:54:41
RT @JBoorman: RT @361Capital: All Time New Highs Today: $AAPL $FB $HD $CVS $UNH $NKE $CELG $COST $LOW $REGN $ADP $TRV http://t.co/HvRfZaovHU
I. Barros
23 Oct 14 05:01:29
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liamkmac
23 Oct 14 05:01:03
RT @JBoorman: RT @361Capital: All Time New Highs Today: $AAPL $FB $HD $CVS $UNH $NKE $CELG $COST $LOW $REGN $ADP $TRV http://t.co/HvRfZaovHU
Alpha Maven
23 Oct 14 04:33:54
RT @SJosephBurns: RT @361Capital: All Time New Highs Today: $AAPL $FB $HD $CVS $UNH $NKE $CELG $COST $LOW $REGN $ADP $TRV http://t.co/gDtsm…
finsents
23 Oct 14 04:16:58
$ADP:US #AUTOMATIC DATA PROCESSING 23Oct Positive #NewsSentiment http://t.co/FPQcctPqn0 #Russell200
finsents
23 Oct 14 04:16:16
$ADP:US #AUTOMATIC DATA PROCESSING 23Oct Positive #NewsSentiment http://t.co/MUBfK5hme3 #SP500
monestsignalen
23 Oct 14 04:14:02
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Roger
23 Oct 14 02:42:55
RT @theflynews: $ADP ADP, Globoforce announce strategic alliance: Full Story http://t.co/anw1xMRPEt
The Fly
23 Oct 14 02:42:48
$ADP ADP, Globoforce announce strategic alliance: Full Story http://t.co/anw1xMRPEt
John Calhoun
23 Oct 14 02:05:59
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OceanView
23 Oct 14 01:14:34
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wininstocks2014
23 Oct 14 00:14:12
ADP 74.61 Stock Charts $ADP Automatic Data Processing Inc. (NASDAQ) Last Updated: 10/23/2014 02:14:10 ADP Stoc http://t.co/BdNd2ANu5B
Steve L
22 Oct 14 22:00:19
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Mike Ninov
22 Oct 14 21:54:46
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BP Radigan
22 Oct 14 21:39:56
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DaTrader
22 Oct 14 21:31:15
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Alex
22 Oct 14 21:31:08
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Stock Signaling
22 Oct 14 21:31:06
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Alpha Maven
22 Oct 14 20:16:46
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Tim Susoev
22 Oct 14 20:10:56
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Felipe Encinas
22 Oct 14 20:07:47
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Andrew Rocco
22 Oct 14 20:05:28
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DEBRA LEE
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Jon Boorman, CMT
22 Oct 14 19:59:31
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Mateo Ríos Velásquez
22 Oct 14 18:56:13
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Jose Luis Urbina
22 Oct 14 18:36:09
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ur-trading
22 Oct 14 16:58:24
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BlackCabbieTrader
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22 Oct 14 16:13:57
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Alysia Sarkisian
22 Oct 14 16:12:56
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361 Capital
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Despicable Draghi ™
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By  +Follow January 10, 2014 2:06PM
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