Wall Street ekes out gains
The Dow and S&P 500 eked out small gains Friday.
Investors juggled two developments: a weaker-than-expected jobs report hinting at slower growth ... and China's new stimulus plan that eased some concerns about global growth.
The S&P 500 inched up 1 tenth of a percent; the Nasdaq crept lower. But the main indexes gained for the second straight week.
Washington Crossing Advisors portfolio manager, Chad Morganlander.
SOUNDBITE: WASHINGTON CROSSING ADVISORS PORTFOLIO MANAGER, CHAD MORGANLANDER (ENGLISH) SAYING:
"To interpret today's trade, there is the mixed numbers from the jobs report. It's not as bad as people were worried about but yetit wasn't as vibrant as people were concerned about."
The economy added 130,000 jobs in August, 50,000 fewer than forecast. That raises concerns about a slowing economy but keeps investors hopeful that the Federal Reserve will follow through on an interest rate cut later this month.
Facebook shares weighed heavily on the Nasdaq as did Google parent, Alphabet.
Several state attorneys general announced an anti-trust probe into the social networking company on whether it stifled competition.
The Wall Street Journal reports an antitrust probe by state attorneys general against Google will be announced Monday.
Lululemon shares rose. Strong online and menswear sales helped stretch the yoga pants maker's quarterly profit and revenue past analysts' targets. Lululemon raised its forecasts for the full year.
High-flying shares of Beyond Meat decelerated after receiving their first "underperform" rating from D.A. Davidson.
