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Stock Market Update
Friday 09/05/2008 4:25 PM ET
[BRIEFING.COM] Friday was shaping up to be another session of hefty losses until buyers emerged midsession to lend support. Leadership came from the financial sector, which carried the major indices off their session lows.
The tone Friday turned decidedly pessimistic early on when the latest dose of government data revealed nonfarm payrolls fell by 84,000 during August, bringing the unemployment rate to 6.1%. The decline in payrolls was essentially in-line with expectations, but the headline unemployment rate was higher than expected.
Sentiment received little help from technology, which is the largest among the major economic sectors. Shares of tech firms have been hit during recent sessions amid fears that a global slowdown will weigh on their performance. Nokia (NOK 20.62, -1.69), a global leader in phon...
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