Stocks slipped at Friday’s opening bell as investors digest the February jobs report. The unemployment rate dropped to 5.5% with 295,000 jobs created last month. However, average hourly earnings increased a meager 0.1% and the average work week was unchanged at 34.6 hours. Apple (AAPL) will replace AT&T (T) in the Dow Jones Industrial Average this month. Apple’s addition will boost the index’s weighting toward tech stocks. JPMorgan (JPM), Goldman Sachs (GS) and Citigroup (C) along with other large financials will be in focus today. All 31 banks passed the Fed’s ‘stress test’ measuring how well they would handle a tumble in the financial markets.
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