Arab Today, arab today good us jobs data fail to boost stocks
Last Updated : GMT 21:55:33
Arab Today, arab today
Arab Today, arab today

Good US jobs data fail to boost stocks

Arab Today, arab today

Arab Today, arab today Good US jobs data fail to boost stocks

New York - AFP

An encouraging October jobs report gave shares an early bump Friday but the gains were all quickly lost and the main indices ended in the red, as caution grew ahead of next Tuesday\'s election. Although the jobless rate ticked up to 7.9 percent, the fact that the economy could pump out 171,000 net new jobs last month was seen as good for President Barack Obama and a negative for challenger Mitt Romney, the Wall Street favorite. The markets also were pulled down by Apple\'s 3.3 percent fall, amid a lukewarm reception for its new iPad mini. The Dow Jones Industrial Average finished down 139.46 points (1.05 percent) at 13,093.16. The broad-based S&P 500 fell 13.39 (0.94 percent) to 1,414.20, and the Nasdaq Composite lost 37.93 (1.26 percent) at 2,982.13. The jobs data was a good sign for the economy, analysts said. \"The October payroll survey showed a brighter picture of the labor market, both in faster headline job creation and in upward revisions to previous months,\" said Nigel Gault of IHS Global Insight. In stocks, insurer AIG fell 7.2 percent despite its third-quarter earnings handily beating estimates as the company swung into the black, earning $1.9 billion. But worries about the costs to the economy from Hurricane Sandy, which could lead to insured losses industry-wide of $20 billion according to estimates, kept a cloud over the shares. \"We are seeing continued momentum, and we\'re building for the future by creating a more streamlined, efficient, and nimble company,\" AIG chief executive Robert Benmosche said in a statement. Other insurers took a hit: Hartford Financial fell 3.0 percent, and Travelers 0.9 percent. Power companies hit by extended outages in the storm sank: Exelon fell 2.4 percent, Con Ed lost 0.9 percent and New Jersey\'s PSEG was down 0.2 percent. Mining companies weakened amid a sharp fall in gold prices: Freeport McMoRan lost 3.1 percent and Newmont Mining lost 8.4 percent. Chevron, the oil giant, dropped 2.8 percent after reporting a fall in quarterly profit due to lower crude output. Among gainers, Starbucks added 9.1 percent after turning in strong earnings and boosting its dividend. Bond prices gained slightly. The 10-year US Treasury yield fell to 1.71 percent from 1.72 percent late Thursday, and the 30-year held at 2.90 percent.

arabstoday
arabstoday

GMT 21:25 2017 Wednesday ,24 May

Egypt bourse rebounds at beginning of trading

GMT 03:39 2017 Wednesday ,24 May

Saudi stocks drag lower before Ramadan

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today good us jobs data fail to boost stocks Arab Today, arab today good us jobs data fail to boost stocks

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today good us jobs data fail to boost stocks Arab Today, arab today good us jobs data fail to boost stocks

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show

GMT 21:25 2017 Wednesday ,24 May

Egypt bourse rebounds at beginning of trading

GMT 03:39 2017 Wednesday ,24 May

Saudi stocks drag lower before Ramadan

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday