Wall Street ends mixed after strong jobs data

Published: February 02, 2019 12:15:32 | Updated: February 05, 2019 12:20:46


File Photo (Collected)

Wall Street ended mixed on Friday, as optimism from a surge in January US job growth was offset by a weaker-than-expected outlook from Amazon.com Inc that battered retail stocks.

The online retail heavyweight slumped 5.38 per cent after its quarterly sales forecast fell short of Wall Street estimates, overshadowing its record sales and profit during the holiday season.

Those results put the Nasdaq in negative territory, while retailers Walmart Inc, Macy’s Inc and Kohl’s Corp each dropped more than 2.0 per cent. The S&P consumer discretionary index fell 1.77 per cent.

The Dow Jones Industrial Average climbed 0.26 per cent to end the week at 25,063.89 points, while the S&P 500 edged 0.09 per cent higher to 2,706.53.

However, the Nasdaq Composite dropped 0.25 per cent to 7,263.87.

The S&P 500 rose 1.6 per cent for the week and the benchmark index is up 8.0 per cent so far in 2019, but it still remains 8.0 per cent below its record high close on Sept. 20, 2018.

The Dow added 1.3 per cent for the week and the Nasdaq gained 1.4 per cent.

During Friday’s session, Exxon Mobil Corp and Chevron Corp jumped more than 3.0 per cent apiece after the oil majors reported better-than-expected quarterly profits, boosting the Dow Jones Industrials.

The S&P energy index rallied 1.83 percent, also helped by higher oil prices.

Cigna Corp slid 2.88 per cent lower after the health insurer forecast 2019 revenue and earnings below estimates.

Advancing issues outnumbered declining ones on the NYSE by a 1.30-to-1 ratio; on Nasdaq, a 1.37-to-1 ratio favoured advancers.

The S&P 500 posted 29 new 52-week highs and no new lows; the Nasdaq Composite recorded 51 new highs and 20 new lows.

Volume on US exchanges was 7.5 billion shares, compared with the 7.7 billion share average over the last 20 trading days.

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