Finance

Stocks are lower after the jobs report (SPY, DJI, IXIC, USD, GLD, GLX)

adfaewfInvesting.comThe dollar has had a rough week.

Stocks were lower after the January jobs report showed headline job gains missed expectations while the unemployment fell to a new post-crisis low.

The economy added 151,000 jobs in January while the unemployment rate fell to 4.9%.

Wage growth also beat expectations.

Following the report, and just after 2:15 p.m. ET, the Dow was down 254 points, the S&P 500 was down 38 points, and the Nasdaq was down the most: 147 points, or 3%.

The Nasdaq 100 headed for its lowest close since October 2014.

Tech was the leading declining sector. Notably, LinkedIn shares fell as much as 44%, the worst decline ever, after the company provided weak earnings guidance in its report Thursday.

In other moves, the US dollar index was nearly flat, but the currency was still on pace for its biggest weekly decline since 2009.

Crude oil fell 1% after seesawing earlier in the session, with WTI futures trading near $31.22 in New York.

And, gold continued to rally, hitting a three-week high of about $1,161.10 an ounce.

More to come …

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