U.S. stocks fell from their record heights on Friday after a report showed hiring was a touch weaker than expected last month.
Employers added 145,000 jobs across the country in December, short of the 160,000 that economists forecast. But the growth was solid enough to bolster Wall Street's view that the job market is holding up and households can continue to spend, preserving the largest part of the economy. The bond market also rallied after the report showed workers’ wages aren’t rising much, which lessens the threat of inflation.
The S&P 500 fell 9.35 points, or 0.3%, to 3,265.35.
The Dow Jones Industrial Average sank 133.13, or 0.5%, to 28,823.77. .
The Nasdaq dropped 24.57, or 0.3%, to 9,178.86.
The Russell 2000 index of smaller company stocks fell 7.34 points, or 0.4%, to 1,657.64.
For the week:
The S&P 500 is up 30.50, or 0.9%.
The Dow is up 188.89 points, or 0.7%.
The Nasdaq is up 158.09 points, or 1.8%.
The Russell 2000 is down 3.23 points, or 0.2%.
For the year:
The S&P 500 is up 34.57 points, or 1.1%.
The Dow is up 285.33 points, or 1%.
The Nasdaq is up 206.26 points, or 2.3%.
The Russell 2000 is down 10.83 points, or 0.6%.