Friday, 6 October 2017

US markets edged lower after jobs decline

US markets edged lower in morning trade on Friday, after new economic data from the US Labor Department showed the first monthly jobs decline since 2010.

The fall in the three major indexes came after a streak of record-making gains in recent days.

The Dow Jones Industrial Average fell 21.35 points, or 0.09%, to 22,754.04, while the wider S&P 500 was down 4.16 points, or 0.16%, at 2,548.

The Nasdaq slid 4.51 points, or 0.07%, to 6,580.85.

The US Labor Department showed the US lost 33,000 jobs in September, while the unemployment rate slipped to 4.2%. The jobs decline was attributed to the havoc wreaked by hurricanes Harvey and Irma.
The declines were spread across the stock market on Friday morning, with most sectors of the S&P lower.

Airlines, including United Continental Holdings and Southwest, were a bright spot.

Discount grocery chain Costco was lower, after the firm reported earnings that showed shrinking margins.

BBC     News.

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