Jobs Numbers Keep Investors Uncertain, Downward Trend Continues
The S&P 500, the Nasdaq and the Dow Industrial Averaged ended the day down, continuing a declining January market into February. Markets reacted weakly to mixed preliminary jobs data. The Institute for Supply Management and Markit both reported an uptick in the U.S. service sector in January, but the ADP National Employment report showed fewer jobs added than expected in January — only 175,000. “Today’s (data) almost just added to the confusion, or added to the indecision, as to what exactly should we believe,” said Ryan Detrick, of Schaeffer’s Investment Research.