Go Finance Reporting in NEW YORK - U.S. stock index (U.S.) closed lower again this weekend after a weak employment data and prove if the United States economy is slowing.
Selling pressure has plagued the market in early trading after the release of payroll data. As a result, the S & P 500 index recorded its lowest level directly in 1294.70, but the positive data put a halt to the service sector was weakening.
The main index traded at its lowest level in six weeks, and the S & P has fallen 4.7 percent from its peak reached in late April. However, some fund managers said the stock market has an opportunity to strengthen the macro-economic uncertainty right now.
"We did not see the trend of downside from here," said chief investment strategist of Global Investment Trust Jim McDonald was quoted as saying by Reuters. "Correction of five per cent had responded to the slowing economy. And in the medium term, our hope is that we will get back the momentum to strengthen," he said.
Payroll report shows there are as many as 54,000 additional jobs in May, this is the weakest since September. While the U.S. unemployment rate rose to 9.1 percent from nine percent in April before.
At the close of trading on Friday (06/03/2011), the Dow Jones industrial fell 97.29 points, or 0.79 percent, to 12151.26. The broader Standard & Poor's 500 index dropped 12.78 points, or 0.97 percent to 1300.16. Dam Nasdaq Composite Index fell 40.53 points, or 1.46 percent to 2732.78.
The three main indexes fell 2.3 percent during the week. And the S & P 500 is the worst since mid-August. (GoFinance)
No comments:
Post a Comment