US stocks mostly flat after weak jobs report

Filed under: Daily News |

Stocks on Wall Street are edging between small gains and losses following news that the U.S. economy added fewer jobs than expected in August.

 

The Dow Jones industrial average was down nine points at 13,283 shortly before midday Friday. The Standard & Poor’s 500 was up three at 1,435. The Nasdaq was down less than two points at 3,134.

 

The government reported that 96,000 jobs were created in the U.S. last month, fewer than economists had forecast. The unemployment rate fell to 8.1 percent from 8.3 percent, but only because more people gave up looking for work.

 

Tech bellwether Intel dealt the market a blow by cutting its revenue outlook because of weak demand for its semiconductors. Intel fell 80 cents, or 3 percent, to $24.29.