The Dow Jones Industrial Average (DJI) extended Thursday's slide today, bringing its weekly loss to 2.8%, as a weaker-than-expected payrolls report kicked the session off on a sour note. Stemming the subsequent sell-off, however, were hopes that the lackluster labor figures will prompt the Fed to maintain the status quo for longer than expected. In addition, a stronger-than-forecast earnings report from The Procter & Gamble Company (NYSE:PG) kept the blue-chip barometer's losses in check, with the Dow ending on a decline of 70 points, after being down triple digits at midday.
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The Dow Jones Industrial Average (DJI - 16,493.37) gave up 70 points, or 0.4%, as 23 of its 30 components ended lower. JPMorgan Chase & Co. (NYSE:JPM) suffered the worst fate, shedding 2.1%, while PG led the blue-chip elite with a 3% advance. The Coca-Cola Company (NYSE:KO) finished flat. For the week, the Dow dropped 2.8% -- its biggest weekly loss since January.
The S&P 500 Index (SPX - 1,925.15) spent part of the session in positive territory, but couldn't maintain upside momentum, dropping 5.5 points, or 0.3%, by the close. The Nasdaq Composite (COMP - 4,352.64) followed suit, ending with a deficit of 17.1 points, or 0.4%. For the week, the SPX and COMP gave up 2.7% and 2.2%, respectively.
The CBOE Volatility Index (VIX - 17.03) eked out a fractional gain, advancing 0.5%. For the week, the "fear barometer" surged 34.2%.
5 Items on Our Radar Today:
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The Case for Big Moves in IWM and QQQ
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