J.P. Morgan, EOG Lead Slide; Earnings Lift Kraft Foods, PerkinElmer, but Economic Jitters Dominate
Author: Kristina Peterson</br></br>NEW YORK--Stocks fell modestly in a day of volatile trading after a disappointing jobs report cast fresh doubts over the pace of the U.S. economic recovery.</br></br>The Dow Jones Industrial Average fell 21.42 points, or 0.2%, to 10653.56. That left the average up 1.8% on the week, its third straight rise, and up 2.2% for the year. J.P. Morgan Chase was the weakest component, sliding 83 cents, or 2%, to 40.44, on a day when riskier stocks took the biggest hit as the economic outlook darkened.</br></br>The weaker-than-expected July jobs report and the added blow of a sharp downward revision to June's jobs losses, had the benchmark sliding to a triple-digit decline, but losses were pared when cautious investors stepped back, anticipating that the weak data could prompt the U.S. Federal Reserve to take further measures at its meeting next week to stimulate the economy.</br></br>The Nasdaq Composite Index fell 4.59, or 0.2%, to 2288.47, leaving it up 1.5% for the week and 0.9% for the year. The Standard & Poor's 500-share index shed 4.17, or 0.4%, to 1121.64, weighed by its energy and financial sectors. It rose 1.8% in the week and now is up 0.6% for 2010.