Though the rate of U.S. jobs growth in January had a silver lining in the form of strong hourly wage growth and a drop in the unemployment rate to 4.9%, the weak headline number dealt a blow to growth-oriented plays like information technology and consumer-oriented shares. The Dow plunged 212 to 16,205, the S&P tumbled 35 to 1,880 and the Nasdaq was particularly hard hit losing 146 to 4,363.
Oil prices could fall further this year as the market faces an “enormous strain” on its ability to absorb new supplies from producers such as Iran, a top world energy monitor said.
A study predicts “robo” financial-advice services will manage an eye-popping $5 trillion to $7 trillion within a decade, up from under $100 billion today.
Listen in for much more in A Wall Street Wrap-up.
