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AP National Business

Wall Street drifts lower as jobs report sparks questions

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KMIZ

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Published 1:04 PM

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

U.S. stocks are drifting lower in afternoon trading Friday after a weak jobs report raised questions about the Federal Reserve’s timeline to pare back its immense support for the markets. The S&P 500 fell 0.2% after wavering between small gains and losses in the early going. Government data showed far fewer jobs were created last month than economists forecast. The jobs report is among the most anticipated pieces of economic data, and the reaction to its release was a confused one. U.S. stocks moved up, down and then fell again, as did Treasury yields. The price of U.S. oil briefly rose to its highest level since 2014.

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