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09/08/2008 02:28 AM

Monday Fortune Business Report

By: Web Staff

The Dow managed to turn around and finish with slim gains Friday, but overall the week was a big loser for stocks, especially the Nasdaq which dropped more than 4.5 percent.

The Labor Department said the nation's unemployment rate in August jumped to a near five-year high at 6.1 percent. Nonfarm payrolls shrank by 84,000 in August, more than the 75,000 decline expected by economists

Oil fell sharply on the week, dropping about 8 percent. crude-oil futures closed below $107 per barrel on Friday. The drop came amid concern over a slowdown in demand and uncertainty surrounding an OPEC meeting this week.

Here's how things start out today:
The Dow starts at 11,220.
The Nasdaq starts at 2,255.

For the latest updates, check out the online edition of Fortune by clicking here.