Stocks have mixed finish; U.S. added modest number of jobs in August

Major U.S. stock indexes finished little changed Friday after a day of mostly quiet trading capped the S&P 500’s second straight weekly gain.

The market shook off an early stumble thanks largely to gains in healthcare stocks, makers of consumer products, and retailers. Technology, communications, and utilities stocks fell, as did bond yields and gold prices.

Traders had a muted reaction to new data showing that U.S. employers added fewer than expected jobs in August. The report also indicated more people entered the workforce last month, wages rose more than expected, and the unemployment rate remained near the lowest level in five decades.

The S&P 500 inched up 2.71 points (0.1%) to 2,978.71. The benchmark index gained 1.8% for the week. The Dow Jones Industrial Average rose 69.31 (0.3%) to 26,797.46. The Nasdaq lost 13.75 (0.2%) to 8,103.07. The Russell 2000 index of smaller-company stocks dropped 5.58 (0.4%) to 1,505.17.

U.S. employers added a modest 130,000 jobs in August, a sign that hiring has slowed but remains durable in the face of global economic weakness and President Donald Trump’s trade war with China.

The unemployment rate remained 3.7% for a third straight month, the Labor Department said Friday, near the lowest level in five decades. And more Americans entered the workforce in August, a positive development that increased the proportion of adults who are either working or seeking work to its highest level since February.

August’s job gain was boosted by the temporary hiring of 25,000 government workers for the 2020 Census. Excluding all government hiring, the economy added just 96,000 jobs in August, the fewest since May.