(CNBC) U.S. stocks closed slightly lower Friday, as gains in utilities offset declines in financials after a sharp miss on the May jobs report.
The major averages held well off session lows in afternoon trade, with the Dow Jones industrial average trading about 20 points lower after earlier falling 148 points. Goldman Sachs contributed the most to declines.
"I do think sooner or later bad news does become bad news and the only reason why they're taking us back to 2,100 on the SPX is the odds of a July hike have dropped and the Fed's going to hold off," said John Caruso, senior market strategist at RJO Futures.
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