US stocks end lower, but score weekly gains

US stocks closed lower on Friday, to give up earlier the earlier gains on a weak jobs report, after Dow Jones breached the 29,000 milestone for the first time, but ended the week with gains.

Wall Street was buoyed by the tech sector this week, as major tech companies such as Apple, Tesla and Facebook rose to record highs.

President Donald Trump stated that the phase-one trade deal with China will be signed on January 15, but added that signing the phase-two trade deal might get delayed to after the November presidential elections.

The US Department of Labor revealed today that the US economy has added 145,000 new jobs in December, lower than forecasts of 162,000, and the unemployment rate held at the lowest level in five decades 3.5%

To the oil market, West Texas Intermediate (WTI) fell by 0.9% to close at $59.04, and posted 6.4% weekly loss, with a day high of $59.7 and a low of $58.8.

Brent lost 0.6% to $64.98 a barrel, with a weekly loss of 5.3%, and hit a high of $65.6 and low of $64.8.

As for stocks, Dow Jones fell 0.5% or 133 points to close at 28,823, and posted 0.7% gain this week, after it hit a day high 29,009 and a low 28,889.

Nasdaq fell 0.8% or 24 points to 9,179 points, and registered weekly gains of 1.8%, with a high of 9,235 and a low of 9,164 points.

S&P 500 fell by 0.3% or 9 points to 3,265, and posted 0.9% gain this week, with a high of 3,283 and a low of 3,260.