U.S. stocks closed mixed on Monday as Wall Street continued to digest the country's February jobs report.
The Dow Jones Industrial Average decreased 157.13 points, or 0.62 percent, to 25,178.61. The S&P 500 was down 3.55 points, or 0.13 percent, to 2,783.02. The Nasdaq Composite Index was up 27.51 points, or 0.36 percent, to 7,588.32.
With no major economic data due out Monday, investors continued to sift through the nonfarm jobs report.
U.S. total nonfarm payroll employment increased by 313,000 in February and the unemployment rate was unchanged at 4.1 percent, said the U.S. Labor Department on Friday. Economists had expected a gain of 200,000 jobs.
In February, average hourly earnings for all employees on private nonfarm payrolls rose by four cents to 26.75 U.S. dollars. Over the year, average hourly earnings have increased by 68 cents, or 2.6 percent, lower than market expectations.
Analysts said with the strong jobs increase and soft wages growth, the report "couldn't be more positive" for the market, suggesting the U.S. central bank probably won't hike interest rates more than three times in 2018.
The Federal Reserve is scheduled to meet next week, with most market participants expecting the central bank to raise interest rates for the first time this year.
Meanwhile, U.S. President Donald Trump's tariffs plan was still in focus. Trump formally signed proclamations on Thursday to implement a 25-percent tariff on steel imports and a 10-percent charge on aluminum imports, amid mounting dissent from business groups and trading partners around the world.
The tariffs would take effect in 15 days with initial exemptions for Canada and Mexico pending the renegotiation of the North American Free Trade Agreement.
The Dow Jones Industrial Average decreased 157.13 points, or 0.62 percent, to 25,178.61. The S&P 500 was down 3.55 points, or 0.13 percent, to 2,783.02. The Nasdaq Composite Index was up 27.51 points, or 0.36 percent, to 7,588.32.
With no major economic data due out Monday, investors continued to sift through the nonfarm jobs report.
U.S. total nonfarm payroll employment increased by 313,000 in February and the unemployment rate was unchanged at 4.1 percent, said the U.S. Labor Department on Friday. Economists had expected a gain of 200,000 jobs.
In February, average hourly earnings for all employees on private nonfarm payrolls rose by four cents to 26.75 U.S. dollars. Over the year, average hourly earnings have increased by 68 cents, or 2.6 percent, lower than market expectations.
Analysts said with the strong jobs increase and soft wages growth, the report "couldn't be more positive" for the market, suggesting the U.S. central bank probably won't hike interest rates more than three times in 2018.
The Federal Reserve is scheduled to meet next week, with most market participants expecting the central bank to raise interest rates for the first time this year.
Meanwhile, U.S. President Donald Trump's tariffs plan was still in focus. Trump formally signed proclamations on Thursday to implement a 25-percent tariff on steel imports and a 10-percent charge on aluminum imports, amid mounting dissent from business groups and trading partners around the world.
The tariffs would take effect in 15 days with initial exemptions for Canada and Mexico pending the renegotiation of the North American Free Trade Agreement.
Latest comments