Market Close Wrap-Up: March 5, 2010
The major US equity indices closed higher Friday as February’s non-farm employment numbers showed a loss of 36000 jobs in the month versus expectations for a loss of 50000 jobs in a Reuters survey. The unemployment rate remained unchanged at 9.7%, although the impact of severe winter weather on the figures was unclear. In corporate news, General Electric (NYSE:GE) said Chairman and CEO Jeffrey Immelt had declined a bonus for the second straight year. Diversified manufacturer 3M (NYSE:MMM) closed 1.7% higher to $82.44 after the jobs data showed the manufacturing sector added 1000 jobs in February.