July 7, 2012
After a relatively flat holiday-shortened week, the Dow sank back into the red on Friday and eneded the week down nearly 1%. The week got off to a bad start on Monday, as data showed that manufacturing contracted in the U.S. for the first time in almost three years. Tuesday brought some relief when the Dow advanced in a shortened session after the release of promising June auto-sales numbers. But at the end of the week, disappointing June jobs data pulled the Dow back down. Only 80,000 jobs were created in the U.S. in June, below what economists had expected and not enough to move the 8.2% unemployment rate.
One of the problems with the jobs data, ironically, was that it might not have been bad enough. Some analysts believed that if the data was worse, the likelihood of additional stimulus would improve. Check out the following video for more on what drove the markets this week and the individual companies that fared the best and worst on the Dow this week.
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