The Dow and S&P 500 finished the week in negative territory on Friday, but the Nasdaq Composite managed to mark a fresh record after a key jobs report showed that the U.S. economy posted its first monthly decline in jobs in about seven years in September. However, the effect of hurricanes in the Gulf Coast and Florida obscured long-sought gains in wages. The Dow Jones Industrial Average DJIA, -0.01% closed little changed at 22,773, the S&P 500 index SPX, -0.11% finished slightly lower, off 0.1%, snapping an eight-day win streak to close at 2,549. The broad-market benchmark also halted its streak of record closes, the longest in 20 years, at six in a row. The Nasdaq Composite Index COMP, +0.07% meanwhile, booked a gain of less than 0.1%, but enough to post its 55th all-time high of 2017. For the week, the Dow rose 1.7%, the S&P 500 climbed 1.2%, while the Nasdaq logged a weekly return of 1.5%. Nonfarm payrolls shrank by 33,000 in September, undercut by hurricanes Harvey and Irma. Economists polled by MarketWatch had predicted a 75,000 increase in nonfarm jobs. The unemployment rate, however, fell to 4.2% from 4.4%, while wages increased by 0.5% to an average of $26.55 an hour, the Labor Department said Friday. In corporate news, data-center operator Switch Inc. SWCH, +22.59% jumped 23% in its debut as a public company.
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