Major market indices end lower as mixed data from the August jobs report did little to reduce investor anxiety over a possible interest rate hike by the Federal Reserve. Shartia Brantley reports.
U.S. stocks ended the day lower on a mixed August jobs report that did little to quell investor anxiety over a possible Federal Reserve interest rate hike. Major indices hit the red zone for the week as well. The economy added fewer jobs than economists expected, but wages were up, and the unemployment rate dropped to its lowest level in more than seven years. That may encourage the Fed to move on rates this year. S&P Capital IQ's Beth Ann Bovino: BETH ANN BOVINO, U.S. CHIEF ECONOMIST, S&P CAPITAL IQ (ENGLISH) SAYING: "I think, they are going to see it as a positive. Now, it doesn't necessarily mean they are going to move in September, but, I think, this does suggest that they are going to want to move, if not September, certainly this year." Meanwhile, shares of Netflix slid as investors worried over increasing competition. Qualcomm lower as well after its president Derek Aberle alluded to a potential breakup of the company. And Google said, it hopes to return to mainland China this fall after a five-year absence. Its stock followed the pack downward. European stocks ended lower on mixed U.S. data.