We have updated our privacy policy and terms & conditions. Find out more here.

U.S. stocks fall on dismal March jobs report; Dow ends down 0.28%

Stock MarketsApr 05, 2013 08:25PM GMT Add a Comment
Share with a Friend
Thanks for sharing
Emails have been sent to:
To send more emails click here
Investing.com - U.S. stocks fell on Friday though they trimmed earlier losses after the U.S. government reported earlier that the economy picked up a fraction of the new jobs that market watchers were expecting.

At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.38%, the S&P 500 index fell 0.43%, while the Nasdaq Composite index fell 0.65%.

The U.S. Bureau of Labor Statistics reported earlier the economy added 88,000 nonfarm payrolls in March, way below expectations for a gain of 200,000 and below the 268,000 jobs added in February.

The private sector added 95,000 jobs last month, after an increase of 254,000 in February, missing expectations for a 209,000 rise.

The report also showed that the U.S. unemployment rate ticked down to 7.6% in March, from 7.7% the previous month, as more Americans left the labor force.

Analysts were expecting the headline unemployment rate to remain unchanged last month.

The news sent stocks falling, though they later rebounded as disappointing data on jobless claims and private-sector hiring released earlier this week were already priced into the market.

Furthermore, the numbers rekindled talk the Federal Reserve will keep stimulus programs in place, which push up stock prices as a side effect.

Elsewhere in the U.S., the Commerce Department reported that the U.S. trade deficit narrowed unexpectedly in February, coming in at USD43 billion compared to a USD44.5 billion deficit the previous month.

Analysts were expecting the country's trade deficit to widen to USD44.6 billion in February.

Concerns that tensions with North Korea may rise to the point fear affects the global economy kept prices lower as well.

Leading Dow Jones Industrial Average performers included Boeing, up 1.46%, JPMorgan Chase, up 0.91%, and McDonald's, up 0.78%.

The Dow Jones Industrial Average's worst performers included American Express, down 2.20%, Cisco Systems, down 2.09%, and Hewlett-Packard, down 1.39%.

European indices, meanwhile, finished lower.

After the close of European trade, the EURO STOXX 50 fell 1.38%, France's CAC 40 fell 1.68%, while Germany's DAX 30 finished down 2.03%. Meanwhile, in the U.K. the FTSE 100 finished fell 1.49%.

U.S. stocks fall on dismal March jobs report; Dow ends down 0.28%

Related Articles

Wall St. up in choppy trade as tech bounces back
Wall St. up in choppy trade as tech bounces back
By Reuters - Mar 26, 2015

By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks were little changed on Thursday, well off session lows as tech shares recovered, with the S&P 500 struggling to avoid a ...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

NQ 100
Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.