JeeYeon Park
CNBC Stock Market News
August 10, 2010
Stocks slipped Friday after the US government report showed more jobs were lost last month than expected. Quincy Krosby, chief market strategist at Prudential Financial, and David Spika, vice president and investment strategist at WHG Funds, discussed their insights.
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“The job report this morning is confirmation of why you want to invest in companies with exposure to faster-growing foreign markets,” Spika told CNBC.
US employment fell for a second straight month in July with non-farm payrolls falling 131,000, according to the Labor Department.
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Spika said the recovery is going to remain slow and consumer spending will be constrained due to high levels of unemployment.
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