Stocks End Lower after Weak Jobs Data
Stocks ended lower in trading today as investors digested a weaker than expected jobs report for the month of June. However, all three indexes managed to finish off session lows.
The Dow Jones ended the day 0.96% lower at 12,772.47, the S&P 500 ended the day 0.94% lower at 1,354.68, and the Nasdaq ended the day 1.30% lower at 2,937.33.
All sectors in the S&P 500 ended the day in red. Technology sector was the worst performer in the S&P 500 today, ending the day 1.93% lower. Energy sector ended the day 1.33% lower, while Basic Materials sector ended the day 1.40% lower. Industrials dropped 1.50% today. Financials ended the day 0.91% lower.
The Labor Department today released jobs report for the month of June. Following a stronger than expected ADP jobs report and sharp decline in initial jobless claims for the last week, investors were hoping for a solid jobs report. However, the figures released by the Labor Department showed that the U.S. economy added only 80,000 jobs last month, while the unemployment rate stayed at 8.2%.
The dismal jobs data has once gain raised worries about the U.S. economy. Investors are now hoping that the Federal Reserve will announce additional easing measures to boost growth. On Thursday, major central banks, including the Bank of England, the European Central Bank, and the People’s Bank of China, had announced monetary easing measures. The central banks actions suggest that there is major concern about a slowdown in the global economy.
European markets also fell sharply in trading today, with the EURO STOXX 50 Index ending the day 2.16% lower. Earlier in the day, Asian markets, with the exception of China, also ended lower.
Among the major losers in trading today were Informatica Corporation (NASDAQ: INFA), which ended the day 27.62% lower at $31.39, Navistar International Corp. (NYSE: NAV), which ended the day 15.18% lower at $24.42, and Acme Packet Inc.(NASDAQ: APKT), which ended the day 14.46% lower at $15.74.
More Posts by this author
- Best Buy Slashes 2,400 Jobs (BBY)
- Gold Prices Settle Lower
- Stocks End Lower after Weak Jobs Data
- Gold Prices Slip after Jobs Data; Silver Prices also Edge Lower
- Stocks Headed for a Sharply Lower Finish
- U.S. Stocks Continue to Slide after Weak Jobs Report
- Christopher & Banks – CBK – Rejects Unsolicited Proposal as Not in the Best Interest of Stockholders
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
