News Column

Markets Take a Dip After Poor Jobs Report

May 1, 2013

U.S. stocks turned south Wednesday after a disappointing jobs report from Automatic Data Processing Inc.

The payroll firm said the private sector added 119,000 jobs in April, a figure that continues a steady trend lower from December, when the economy added 215,000 jobs in the month.

The Dow Jones index shed 138.85 points a day after establishing a five-month winning streak. The Standard & Poor's 500 index dropped 14.87 points and the Nasdaq index shed 29.66 points a day after posting a sixth consecutive month of gains.

The Dow was off 0.94 percent to 14,700.95 with 25 of 30 Dow components declining. The S&P shed 0.93 percent to 1,582.70. The Nasdaq index lost 0.89 percent to reach 3,299.13.

On the New York Stock Exchange, 868 issues advanced and 2,220 declined on a volume of 3.5 billion shares traded.

The 10-year treasury note was rose 12/32 to yield 1.634 percent.

The euro rose to $1.3182 from Tuesday's $1.3166. The U.S. dollar fell to 97.40 yen from 97.44 yen.

Gold gave up $15.70 to $1,456.40 per troy ounce. West Texas Intermediate crude oil shed $2.50 to $97.42 per barrel.

In international markets, the Nikkei 225 index in Japan lost 0.44 percent, 61.51 points, to 13,79.35. The London FTSE 100 index added 0.33 percent, 21.17 points, to 6,451.29.

On the Chicago Board of Trade, corn for July delivery dropped 4 cents to $6.46 per bushel. Soybeans for July gave up 26 3/4 cents to $13.72 1/4. Wheat lost 11 3/4 cents to $7.19 1/4.




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Source: Copyright UPI 2013


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