Wall Street stalled today, holding on to Friday’s job market and interest rate related gains.
The Labor Department said last week that the U.S. economy added 175,000 jobs in May while the unemployment rate ticked up to 7.6 percent. That report was seen as both strong enough to indicate the recovery continued and weak enough to suggest the Federal Reserve would continue to support markets with low interest rates.
With just 15 minutes of trading left today, the S&P 500 Retailing Industry Group was down 0.1 percent, or 0.43 points, to 794.24, and the Dow Jones Industrial Average was down 5.43 points, to 15,242.69. The retail index rose 1.7 percent Friday as the Dow jumped 207.50 points.
Among those losing ground were Chico’s FAS Inc., down 1.9 percent to $17.59; Quiksilver Inc., 1.9 percent to $6.70; American Eagle Outfitters, 1.7 percent to $19.57; Sears Holdings Corp., 1.6 percent to $46.78, and Gap Inc., 1.4 percent to $41.52.
European stock markets put on a mixed show with the FTSE 100 in London showing the biggest gains.
The British market was up 1 percent to 6,400.45, followed by the DAX in Frankfurt, which advanced 0.6 percent to 8,307.69. Meanwhile, the FTSE MIB in Milan fell 0.8 percent to 16,556.34 and the CAC 40 in Paris slipped 0.2 percent to 3,864.36.
The euro traded at $1.32 against the dollar, while the pound fetched $1.56 and the Swiss franc went for $1.07.
The gainers included Asos.com, which advanced 4.1 percent to 40.48 pounds; Geox, 2.3 percent to 1.99 euros, and Ferragamo, 1.9 percent to 23.69 euros.
On the other hand, Mulberry Group fell 8.2 percent to 9.80 pounds, following word that the brand’s creative director Emma Hill had resigned, and Safilo Group, 1.7 percent to 15.60 euros.