Dow crosses 29000 for the first time - but only briefly

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Wall Street struggles to build on Thursday's gains after uninspiring NFP data

The main USA indexes opened at a record high despite futures initially wobbling after government data showed increased by 145,000 last month, below the 164,000 rise forecast by economists polled by Reuters.

The blue-chip index rose 46 points, or 0.2%, to 29003.10 in early trading. Bank of New York Mellon Corp now owns 386,947 shares of the company's stock worth $19,309,000 after purchasing an additional 17,700 shares during the last quarter.

The Standard & Poor's 500 index rose 21.65 points, or 0.7%, to 3,274.70, breaking the record it set last week.

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Boeing shares dropped 1.9% on Friday to lead the Dow lower. Japan's Nikkei 225 Index ended the day up 0.5%, while China's Shanghai Composite Index dropped 0.1%. The Dow was up 0.7% week to date. It fell back to 28,844 shortly after noon, after the U.S. labor department said 145,000 jobs were added in December.

Total hiring for the year: 2.1 million new jobs, which was the weakest annual job gain in 8 years. Economists had forecast a gain of 3.1%. December was also the first month since July 2018 that wages grew by less than 3% from the year before.

The U.S. economy added 145,000 jobs in December.

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Friday's calm session was in contrast to the week's overall trading action due to geopolitical tensions between Iran and the US.

Washburn Capital Management Inc. bought a new stake in shares of SPDR Dow Jones Industrial Average ETF Trust (NYSEARCA:DIA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. US President Donald Trump's statement that Iran appeared to be "standing down" after an attack on Iraqi US air bases cooled off the markets, so on Thursday stocks got a boost. That comment sparked a relief rally that carried into Thursday's session.

Stocks around the world climbed Thursday, and USA indexes set records, as markets continued a rally sparked after the United States and Iran appeared to step away from the brink of war. The two countries have been at odds over commerce for about two years, when Trump first applied tariffs on Chinese solar panels and washing machines.

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Companies across the S&P 500 have been able to squeeze plenty of profit from each $1 in revenue because wages for their workers aren't rising very quickly, even when the unemployment rate is at a half-century low.

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