US stocks: Dow, S&P 500 end at record high for 2nd day despite tepid jobs data

Among the biggest drags on both the S&P 500 and the Dow was Chevron, the second-largest US oil company.

NEW YORK: The Dow industrials and S&P 500 ended at record highs for a second day on Friday, posting modest gains despite a mixed employment report that showed US hiring slowed in July.

All but three of the 10 S&P 500 sectors ended higher, led by gains in the consumer discretionary index, up 0.7 percent.

The jobs report showed non-farm payrolls rose by 162,000 in July, below expectations, but the unemployment rate fell to 7.4 percent, its lowest since December 2008. The mixed data could make the Federal Reserve more cautious about scaling back its massive economic stimulus.