Stocks opened higher Friday as market participants cheered a bad-news-is-good-news jobs report. But the main indexes quickly turned lower once the reality of a slowing labor market settled in, with a mixed round of late-season earnings reports not helping to shift sentiment.
Ahead of the open, the Bureau of Labor Statistics said the U.S. added 22,000 in August, missing economists' estimate for 75,000 new positions. Figures for June were revised down by 27,000, from +14,000 to -13,000, while July job growth was upwardly revised by 6,000 (from 73,000 to 79,000 additions).
