Arab Today, arab today us stocks turn negative after weak jobs report
Last Updated : GMT 08:29:25
Arab Today, arab today
Arab Today, arab today

US stocks turn negative after weak jobs report

Arab Today, arab today

Arab Today, arab today US stocks turn negative after weak jobs report

New York - AFP

US stocks turned negative early Friday after the much-watched December US employment report showed the economy added far fewer jobs than expected. About 40 minutes into trade, the Dow Jones Industrial Average fell 55.54 points (0.34 percent) to 16,389.22. The broad-based S&P 500 dropped 4.52 (0.25 precent) to 1,833.61, while the tech-rich Nasdaq Composite Index lost 9.97 (0.24 percent) at 4,146.22. The monthly Labor Department report said the US economy added just 74,000 jobs in December, well below the 197,000 expected by analysts. The unemployment rate fell by 0.3 percentage point to 6.7 percent, the lowest since October 2008, mainly due to people dropping out of the labor force. The news sent the dollar lower and depressed US Treasury yields, suggesting the market believes the US Federal Reserve may not move as quickly to taper its stimulus program. At the same time, the weak jobs report dented confidence in the strength of the US economy's recovery from the 2008-2009 downturn. Aluminum giant Alcoa sank 6.6 percent after reporting a $2.3 billion loss on a large write-down. Excluding special items, fourth-quarter earnings came in at four cents per share, three cents shy of expectations. Giant US retailer Target fell 1.3 percent after disclosing that the data breach to its payment system affected 30 million more customers than initially estimated. The company also said its holiday sales were marred by the episode as it slashed its earnings forecast. Sears Holdings plummeted 13.6 percent after reporting that comparable store sales fell 7.4 percent in the current fiscal fourth-quarter quarter to date. The company forecast a loss of $1.3-1.4 billion for the year. Gap rose 0.5 percent after announcing 1.0 percent increase in comparable sales for the key holiday shopping period. The company said full-year earnings would be "at the high end" of its previously released range after a "solid" holiday performance. Abercrombie & Fitch jumped 12.1 percent after it raised its fourth-quarter earnings forecast to $1.55-$1.65 per share from the prior guidance of $1.40-$1.50 due to better-than-expected sales and cost-cutting efforts. Bond prices rose. The yield on the 10-year US Treasury fell to 2.88 percent from 2.96 percent, while the 30-year declined to 3.82 percent from 3.87 percent. Bond prices and yields move inversely.

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 us stocks turn negative after weak jobs report Arab Today, arab today us stocks turn negative after weak jobs report

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar

GMT 13:40 2017 Thursday ,23 February

Muscat Securities Market loses 17 points

GMT 13:18 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 05:51 2017 Thursday ,23 February

Saudi stocks edge up as Brent futures rebound

GMT 20:48 2017 Wednesday ,22 February

Dividend announcements drive Muscat bourse

GMT 16:56 2017 Wednesday ,22 February

Global gold prices drop

GMT 16:01 2017 Wednesday ,22 February

Tadawul edges down 0.2%
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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