Nasdaq Composite off 0.3% at 7,064.10

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 


Breaking

Dow falls 130 points at the open after April jobs report fails to jolt stock market higher

U.S. stock-index benchmarks on Friday slumped at the open, with all the main equity gauges set for a weekly drop, after a report on April jobs showed that fewer-than-expected jobs were created in the month, while wages grew at a cooler-than-expected pace. The Labor Department showed that 164,000 jobs were created in April, below the 188,000 estimated. Separately, the unemployment rate fell to 3.9% from 4.1%, the first time the jobless rate has dropped below 4% since the end of 2000, but that decline came as labor participation also declined. The Dow Jones Industrial Average , meanwhile, slipped 120 points, or 0.5%, at 23,812, the S&P 500 index fell 12 points, or 0.5%, at 2,617, while the Nasdaq Composite Index retreated by 20 points, or 0.3%, at 7,067. For the week, the Dow is set for a decline of 2.2%, the S&P 500 is poised for a 2% drop, while the Nasdaq is on track for a weekly fall of 0.8%. Also driving sentiment was a focus on global trade tensions, with China and the U.S. holding tense talks in Beijing to resolve their tit-for-tat trade spat. In corporate news, Apple’s stock is likely to be in focus after CNBC reported that Warren Buffett acquired 75 million shares of the iPhone maker in the first quarter.

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

Leave a Reply