Tech stocks falter on lackluster jobs data; Apple shares down

“U.S. stocks firmed slightly on Friday after a key U.S. jobs report showed the pace of hiring by employers had eased sightly in December but gave signals of some momentum in the labor market’s recovery since the 2007-09 recession,” Angela Moon reports for Reuters.

“Shares of Nasdaq heavyweight Apple Inc fell nearly 2 percent, pressuring the tech-heavy index… Apple shares were down nearly 2 percent at $532.27 in morning trade. The stock has been on a downward trend over the past few months on concerns about demand for the iPhone 5 and the company’s capability to produce more innovation products in the future,” Moon reports. “The Nasdaq Composite Index was down 6.50 points, or 0.21 percent, at 3,094.06.”

Moon reports, “Though the jobs data showed lackluster economic growth was unable to make a dent in the still-high U.S. unemployment rate, it calmed fears about the possibility of the U.S. Federal Reserve ending its highly stimulative monetary policy.”

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