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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
ADP
22 Oct 14 07:15:03
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Stock Moo
22 Oct 14 05:54:16
$adp: ADP Video Contest Celebrates Midsized Businesses That Have Moved 'Beyond the Startup' http://t.co/md2FLGD1T7
4-traders.com
22 Oct 14 05:35:23
Automatic Data Processing : ADP : Video Contest Celebrates Midsized Businesses That Have Moved 'Beyond the ... http://t.co/9PsIohzhBJ $ADP
john smith
22 Oct 14 05:32:21
$ADP - ADP Video Contest Celebrates Midsized Businesses That Have Moved 'Beyond the Startup' http://t.co/jThbmyaI0s
NASDAQ
22 Oct 14 05:32:13
$ADP - ADP Video Contest Celebrates Midsized Businesses That Have Moved 'Beyond the Startup' http://t.co/Xq1XK5WwdK
Точка Входа.Трейдинг
22 Oct 14 02:15:05
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21 Oct 14 22:37:43
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21 Oct 14 15:09:33
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21 Oct 14 14:49:17
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FonsieTrader
21 Oct 14 14:40:47
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Antonio Costa
21 Oct 14 14:37:48
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Andrew Greenup
21 Oct 14 13:59:08
Best #Airports in Europe 2014 - $FHZN 4th, $DG's Porto 5th & $FRA 8th. $ADP & $FER's #heathrow miss out on Top 10. http://t.co/x6xg2eDz2M
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Tech Alerts
20 Oct 14 14:00:04
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20 Oct 14 07:25:53
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Ken Faulkenberry
20 Oct 14 07:06:25
RT @SureDividend: Government regulations are growing rapidly. Is now the time to buy business compliance business $ADP? http://t.co/pfKEwE…
Ben Reynolds
20 Oct 14 06:07:04
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20 Oct 14 00:46:14
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19 Oct 14 20:26:06
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Stockaholics
19 Oct 14 17:42:44
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Investing Philosophy
18 Oct 14 15:41:41
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Seeking Alpha
18 Oct 14 15:33:46
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StockEarnings.com
18 Oct 14 09:05:14
$ADP Since last ER, stock dropped 11%. Will drop continue aftr ER on 10/29 Before Open? http://t.co/YfvwvTd40s
Stockaholics
18 Oct 14 04:23:59
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $DTV $ADP $BIDU
awolam
18 Oct 14 03:22:57
RT @SeekingAlpha: CDK Global: A Spin-Off Worth Avoiding http://t.co/DXUQEDAyrH $TRAK $ADP $CDK
Marketwizemedia
18 Oct 14 03:20:11
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18 Oct 14 03:15:05
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17 Oct 14 14:16:27
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Media Sentiment
17 Oct 14 12:35:03
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Market Int Center
17 Oct 14 12:31:58
Automatic Data Processing $ADP Showing Bearish Technicals With Support At $70.03 ( http://t.co/8lYrnUMpO1 )
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17 Oct 14 10:12:39
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Eternity101
17 Oct 14 08:36:09
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Æther Analytics
17 Oct 14 08:32:13
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InvestProfits
17 Oct 14 08:07:45
Automatic Data Processing Inc. (ADP) is 3% Away from 200 Day Moving Average http://t.co/sEkmLnyd1C $ADP #investor #stocks #investing
Les Analyses du Club
17 Oct 14 05:40:38
L'action de la semaine par Les Analyses du Club : Aéroports de Paris http://t.co/NfZ5IjkH4D #transport #bourse $ADP
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16 Oct 14 22:26:53
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16 Oct 14 20:02:55
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16 Oct 14 14:21:07
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Tech Alerts
16 Oct 14 11:30:03
Automatic Data Processing: Examining What's Left Following The Spin-Off http://t.co/TWJy2NTZ8R $ADP
Tech Alerts
16 Oct 14 09:30:04
Dividend Aristocrats In Focus Part 17 Of 54: ADP http://t.co/xT8k0kKhjc $ADP
ThinkingProfit.com
16 Oct 14 09:16:28
$ADP: 3 open, suited signals indicate continued price decrease for about 3 more days. http://t.co/XHz3F0aS5m
Techgravity.com
16 Oct 14 08:38:24
$ADP,Lst:MCDN,Qte:71.67,Chg:-0.11,Tgt:69.21
Penny Stock Secret
16 Oct 14 06:51:12
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By  +Follow January 10, 2014 2:06PM
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