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This is an archive article published on July 3, 2010
US stocks sink after mixed jobs report
US stocks posted modest losses as investors digested a mixed June employment report showing the economy shed more jobs than expected and a surprise dip in the unemployment rate.
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US stocks posted modest losses as investors digested a mixed June employment report showing the economy shed more jobs than expected and a surprise dip in the unemployment rate.
Paring earlier losses,the Dow Jones Industrial Average dropped 46.05 points (0.47 per cent) to 9,686.48 in closing trades.
The tech-rich Nasdaq composite index slid 9.57 points (0.46 per cent) to 2,091.79 and the S&P 500 index,a broader measure of the markets,shed 4.79 points (0.47 per cent) at 1,022.58.
“The jobs report showed the unemployment rate and the drop in jobs were better than expected,while private-sector job growth and average hourly earnings were below expectations,” Charles Schwab & Co analysts said in a client note.
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