Stocks Open Mixed After 5 Losing Weeks

Posted: Mon 9:40 AM, Jun 06, 2011

Stocks are opening mixed, starting the week lower after losing ground for five straight weeks. The Dow is down 5 points at 12,120 at the start of trading Monday. The S&P 500 is down 1 point at 1,298. The Nasdaq is up 7 points at 2,296.

The three indexes dropped more than 2 percent last week. A dismal jobs report sent stocks sharply lower on Friday. The Labor Department reported that employers added only 54,000 new workers in May. The unemployment rate inched up to 9.1 percent from 9 percent.

The monthly jobs report reinforced earlier signs that the U.S. economy is slowing.

No economic reports are due out Monday.

For the year, the Dow remains up 5 percent. The S&P and Nasdaq are up more than 3 percent.

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Stocks Open Mixed After 5 Losing Weeks

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