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Just 112,000 New Jobs In June
1That was less than half the 250,000 jobs economists expected. And April and May nonfarm payroll growth was revised down a little. Manufacturers shed 11,000 jobs, ending a recent uptrend. The jobless rate held at 5.6%. The U.S. has added 1.3 mil jobs so far in '04. But the data are the latest sign the U.S. economy is slowing. More on this page, A2
Bond Yields Dive On Jobs Data
2The yield on the 10-year Treasury slid 11 basis points to 4.46%, the lowest since April 27. Yields fell 28 basis points Wednesday-Friday as a "measured" Fed, slowing factory growth and sluggish jobs growth signaled slower GDP growth and gradual rate hikes ahead. Fed funds futures suggest quarter-point hikes in Aug. and late Sept., with 50-point moves off the table. More on B9
Stocks Ease Down In Light Trade
3 The Dow slid 0.5%, the Nasdaq 0.4%, the S&P 500 0.3%, the small-cap S&P 600 0.1%. Chips led decliners. Volume was light across the board. For the week, the Nasdaq and Dow both fell 0.9%, the S&P 500 0.8%, the small-cap S&P 600 0.2%. Weekly volume was also lower throughout, a good sign in a down week. More on this page, B2
Yemen Offers Troops For Iraq