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Dow edges down from record after solid US jobs report

New York - Wall Street stocks finished little changed on Friday, with the Dow retreating slightly from a record, after US unemployment hit a nine-year low.

The jobless rate fell three-tenths to 4.6% in November, with a solid 178 000 net new positions created, the Department of Labour reported.

Analysts said the figures were likely strong enough to keep the Federal Reserve on track to hike interest rates later this month.

The Dow Jones Industrial Average dipped 0.1% to 19 170.42.

The broad-based S&P 500 ended up a hair at 2 191.95, while the tech-rich Nasdaq Composite Index rose 0.1% to 5 255.65.

Analysts said profit-taking drove declines in some sectors that have soared since the November 8 US elections. Banks fell, with Goldman Sachs losing 1.4% and Citigroup 2.2%.

Media stocks were generally lower, with Comcast losing 1.6% and Twenty-First Century Fox 2.8%. Disney and CBS also fell.

Starbucks dropped 2.2% after it announced on Thursday that Howard Schultz was stepping down as chief executive early next year, to be replaced by president and chief operating officer Kevin Johnson.

Schultz will stay on as executive chairman and chairman of the board and will build up the company's super premium coffee shop business.

Gap fell 3.0% after reporting that November comparable sales fell 1%.

The apparel chain said trends remained challenging, but sales improved in the latter part of the month as the holiday shopping season kicked off.

Gun maker Smith & Wesson plunged 12.0% after it projected lower-than-expected profits in the fourth quarter.

Analysts said the election of gun-rights supporter Donald Trump as US president would lessen the urgency for purchases.

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