US STOCKS-Wall St retreats after S&P record; Ukraine woes in focus

viernes 7 de marzo de 2014 16:27 GYT

* U.S. job growth an upbeat sign for weather-beaten economy

* Putin rebuffs Obama as Ukraine crisis escalates

* Dow up 0.1 pct; S&P 500 flat; Nasdaq off 0.4 pct

By Angela Moon

NEW YORK, March 7 (Reuters) - U.S. stocks pulled back on Friday, with the Nasdaq extending losses in late afternoon trading as investors adjusted their positions ahead of the weekend and caution prevailed because of the simmering crisis in Ukraine.

Both the Dow and the S&P 500 retreated from session highs.

The S&P 500 had climbed to an intraday record of 1,883.57 shortly after the opening bell, lifted by the Labor Department's report showing that U.S. employers added 175,000 jobs to their payrolls in February. Economists had expected a gain of 149,000 jobs, according to a Reuters poll.

But as the market digested the jobs report, some analysts said the data has sparked the possibility that the U.S. Federal Reserve would take more action at its policy meeting later this month. The Fed, however, is expected to keep reducing its monthly bond-buying program.

"It seems that the decent February employment report, although a step in the right direction, has resolved little," said Andrew Wilkinson, chief market analyst at Interactive Brokers LLC in Greenwich, Connecticut.   Continuación...