Stocks Slip in Midday Trade
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Stocks slipped in midday trading Friday on news that the U.S. added fewer jobs than expected in August and wage growth was anemic.
The Labor Department reported that the U.S. economy generated 169,000 new jobs last month, below economists' estimates of 190,000, but July jobs growth was revised upward. Wages grew just 0.1%, below 0.3% forecasts.
The news added to evidence that the economy was already slowing before Hurricane Katrina hit.
soared more than 20% each on strong quarterly results.