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July's Jobs Data Not Encouraging
1Businesses created only 6,000 new jobs as the jobless rate remained at 5.9%. The rise was well below the 60,000 most analysts predicted. Manufacturing, which earlier this year looked to be on the mend, shed 7,000 jobs; construction lost 30,000. Services added 50,000. Hourly earnings rose 3.2% from a year ago. More on this page, A2
Stocks Decline On Profit Worries
2Stocks slumped again Friday as weak economic data dimmed the profit outlook. The Dow and S&P 500 each fell 2.3%. The Nasdaq gave up 2.5% to mark its fifth straight down week as chip stocks sagged. Volume was quiet across the board. Home builders and retailers ranked among the worst performers. More on B2
Data, Goldman View Slice Yields
3The 10-year note yield plunged 3% to undercut recent lows. Two-year notes dipped below 2% for the first time as the job data added to a darkening economic picture. A Goldman Sachs report saw the Fed's short-term target rate diving to 1% by year-end from the current 1.75%. Fed funds futures immediately priced in a 100% chance of a 25-basis-point cut by Dec. More on B9
Personal Spending Solid In June