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September 7, 2013

Stocks flat as traders weigh weak jobs data, Syria

NEW YORK (AP) — After a volatile day, stocks ended Friday mostly unchanged, as traders weighed a weak jobs report for August and the ongoing tensions between the U.S. and Syria.

While stock indexes ended close to where they began, they had rough ride during the day. Stocks opened slightly higher but soon fell after Russian media reported that naval ships were en route to Syria, stoking fears of a wider conflict and sending the Dow Jones industrial average down as much 148 points in the first half-hour of trading.

By the end of the day, the Dow had risen as high as 15,009 and dropped as low as 14,789 — a big 220 point range.

“Clearly, (Russia) made the market nervous,” said Dean Junkans, chief investment officer for Wells Fargo Private Bank, which has $170 billion in assets under management.

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