After The Bell: Ugly Jobs Report May Impact Fed Rate Hike Path
(CBS) -- Stocks closed slightly lower Friday, as a disappointing May jobs report raises questions on when the Federal Reserve will be in position to resume its higher rate hike path.
The S&P 500 lost 6, the NASDAQ shed 28 and the Dow Jones industrial average closed down 31 points, settling to 17,807.
"This market is confused, it doesn't have the earnings to drive it higher. Even with the Fed staying on hold, the earnings just aren't there." says Andy Busch, editor the Busch Update.
Busch also noted that he expects more stock market volatility as we get closer to the US presidential election.
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