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Stocks open lower after tepid jobs report

August 2, 2013

NEW YORK (AP) — Stocks are opening lower on Wall Street after the government reported only modest job growth last month.

Energy stocks fell more than the rest of the market after Chevron became the latest big energy company to report lower profits.

The Dow Jones industrial average fell 58 points, or 0.4 percent, to 15,569 in early trading Friday.

The Standard & Poor’s 500 index fell four points, or 0.3 percent, to 1,702. The Nasdaq composite was down eight points, or 0.2 percent, at 3,667.

The U.S. government reported that 162,000 jobs were created last month, fewer than economists were expecting and the least since March.

The yield on the 10-year Treasury note fell to 2.63 percent from 2.71 percent.

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