Investor News: US stock indexes shedding early gains from jobs report

Investor News: US stock indexes shedding early gains from jobs report

(AP) Major U.S. stock indexes edged mostly lower in late-afternoon trading Friday as enthusiasm over a surge in hiring in January was tempered by a weak revenue forecast by Amazon.

Losses in retailers, led by Amazon, outweighed gains in energy stocks, banks and technology companies, placing the benchmark S&P 500 index on track to break a two-day winning streak.

The solid jobs report came a day after investors got encouraging news from the Federal Reserve, which confirmed that it will be “patient” in deciding when to raise interest rates.

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