Resigned Markets End Mixed

Bad employment data another signal of recession; still, indices up for week
By Nick McMaster,  Newser Staff
Posted Apr 4, 2008 4:07 PM CDT
David Williams of Glenwood Securities looks at an overhead monitor from the floor of the New York Stock Exchange, Tuesday, Apr. 1, 2008.    (AP Photo/Henny Ray Abrams)
camera-icon View 2 more images

(Newser) – Stocks ended mixed today as a commodities rally contrasted with disappointing employment news, the Wall Street Journal reports—though the major indices were up for the week. The Dow fell 16.61 to close at 12,609.42, up 3.2% for the week. The Nasdaq gained 7.68 points to 2,370.98, a weekly gain of 4.9%; the S&P 500 rose 1.09 point to 1,370.40, rising 4.2% for the week.

The indices fell, rallied and fell again as oil prices surged past $106 a barrel, sending Exxon shares to a 5-week high, but the Labor Department said a US payroll decline was the worst in 5 years. That the markets didn't dive on the news led analysts to speculate that investors are resigned to recession.