Stocks fell just slightly despite a disappointing jobs report and the U.S. missile strike on Syria. Fred Katayama reports.
U.S. stocks fell just slightly Friday morning despite a mixed jobs report and the U.S. missile launch against Syria. Financial and energy shares weighed on the market. PNC Asset Management's global chief investment strategist Bill Stone said, "Investors have become a bit numb to armed conflict as long as there's no worry it disrupts oil or disrupts some sort of the economic side of the equation." U.S. job growth slowed sharply in March partly due to the storm striking the Northeast. But Stone says the moderate job gains and gradual wage increases still keeps the Federal Reserve on course for two more interest rate hikes by year end, giving investors some relief from fears of a more hawkish central bank. The U.S. missile strike against a Syrian airbase pushed oil prices up close to a one-month high, and the dollar sharply rose against the Russian ruble.