Friday Closing Bell: Mixed Close on Jobs Report, Syria Worries

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By Paul Ausick Updated Published
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September 6, 2013: U.S. markets opened higher on Friday morning while even though this morning’s report on employment was weak because most traders believed that the weak report would convince the Fed to delay tapering its asset purchases. Comments by Russia’s President Putin that his country would side with Syria in the event of an attack on the country sent equities plunging before they pulled back roughly to their opening levels. At the closing bell stocks were barely off the flat line.

European and Latin American markets closed higher today, while Asian markets closed mixed.

WTI crude oil closed the week at $110.53 a barrel, up 2% for the day and up 2.7% for the week.

Monday’s calendar includes a speech by San Francisco Fed President John Williams and the following data releases and events (all times Eastern):

  • 11:30 a.m. – 3- and 6-month bill auctions
  • 3:00 p.m. – Consumer credit report

Here are the closing bell levels for Friday:

  • S&P500 1,639.75 (+0.09; +0.01%)
  • DJIA 14,922.50 (-14.98; -0.10%)
  • NASDAQ 3,660.01 (+1.23; +0.03%)
  • 10YR TNOTE 2.935% (+0.53125)
  • Gold $1,386.50 (+13.50; +1%)
  • Euro/Dollar: 1.3176 (+0.0058; +0.43%)

Big Earnings Movers: Specialty retailer Quiksilver Inc. (NYSE: ZQK) is up 31.7% at $6.85. Smith & Wesson Holding Corp. (NASDAQ: SWHC) is down 10.2% at $10.31 after issuing weak guidance. Mattress Firm Holding Corp. (NASDAQ: MFRM) is down 14.6% at $35.59. Korn/Ferry International (NYSE: KFY) is up 11.2% at $20.81 after posting a new 52-week high of $20.93 earlier. VeriFone Systems Inc. (NYSE: PAY) is up 10.1% at $22.81. Zumiez Inc. (NASDAQ: ZUMZ) is up 11.2% at $28.11.

Stocks on the move: Facebook Inc. (NASDAQ: FB) posted a new 52-week high of $44.61 and is up 3% to $43.94. Advanced Micro Devices Inc. (NYSE: AMD) is up 4.7% at $3.57. Kior Corp. (NASDAQ: KIOR) is down 13.4% at $1.49. Yelp Inc. (NYSE: YELP) is up 5.9% at $62.40 after posting a new 52-week high of $64.38 earlier today.

In all, 105 stocks put up new 52-week highs today, while 36 stocks posted new lows.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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