Data provided by McGregor BFA
All data is delayed
Loading...
See More

Jobs fears leave US stocks mixed

Feb 03 2012 08:17 AFP

Related Articles

Stocks rise on Greek debt deal optimism

Stocks pressured by growth worries

Wall St starts February strong

US jobs data helps stocks

Wall Street ends off lows

Wall St stuck in neutral on poor data

 

New York - US stocks ended the session mixed on Thursday after weekly jobless claims fell but Federal Reserve chief Ben Bernanke told Congress the jobs market had a long road to recovery.

The Dow Jones Industrial Average shed 11.05 points to finish at 12 705.41.

The broad S&P 500 added 1.45 points to 1 325.54, while the tech-heavy Nasdaq gained 11.41 points to 2 859.68.

Charles Schwab analyst said that traders "showed a lack of conviction ahead of tomorrow's jobs report.

"A larger-than-expected drop in jobless claims gave the bulls some early momentum, but Fed chairperson Ben Bernanke's cautious tone in testimony before Congress took some wind out of the market's sails," they said.

New claims for US unemployment benefits, an indicator of the pace of layoffs, fell last week and continued to trend lower, the Labour Department reported.

On Friday the department reports January labour data, expected to show the unemployment rate remained unchanged at 8.5% from December amid a fragile economic recovery.

Among stocks in focus, Qualcomm, the world's biggest maker of mobile-phone chips, gained nearly 2.0% after raising its full-year earnings forecast.

Merck fell 0.5% after a swing into profit in the fourth quarter that was better than expected.

Zynga, a maker of Facebook games, jumped 16.8%, after the social-networking giant late Wednesday filed its long-awaited initial public offering, seeking to raise $5bn.

NYSE Euronext shares rose 1.9% after it scotched its planned merger with Deutsche Boerse after EU regulators rejected it.

But rising more, up 8.4% was commodities and derivatives exchange operator CME, which faced tougher competition in the merger.

Bond prices edged higher. The yield on the 10-year Treasury fell to 1.83% from 1.85% on Wednesday, while the 30-year slipped to 3.01% from 3.02%.

Bond prices and yields move in opposite directions.

markets  |  us economy  |  us jobs data  |  us stocks
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Zuma: Pray for peaceful polls

President Jacob Zuma has asked members of the Universal Church of the Kingdom of God to pray for peaceful elections on 7 May.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...