InfoAnda - U.S. Markets End March On Down Note As Jobs Data Weighs

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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles U.S. Markets End March On Down Note As Jobs Data Weighs Email Facebook Digg Twitter Buzz Up! ShareThis March 31, 2010 4:55 p.m. EST Topics: market and exchange, economy, business and finance, United States Mitchell Jaworski - AHN News Reporter New York, NY, United States (AHN) - U.S. Markets opened the last trading day of March lower and remained that way for most of the session as weak employment and manufacturing data sparked selling. Before the opening bell, the ADP National Employment Report, which tracks payrolls in the private sector, showed a decrease of 23,000 for March. The downturn was a surprise with economists expecting an increase of 40,000 jobs. The news led to a lower open for stocks, causing the Dow Jones Industrial average to trade in negative territory the entire session. The blue-chip average finished 70 points lower or 0.6 percent. Dow decliners outweighed advancers 24 to 6. Boeing was a main Dow laggard, down 1.3 percent after announcing it will take a $150 million charge in the current quarter due to tax changes from the heath reform bill. More than a dozen largest U.S. companies have made such announcements since the bill was passed. The S&P 500 dipped 4 points or 0.3 percent as only two of 10 major economic sectors were able to garner a gain on Wednesday. The energy sector, up 0.4 percent, performed best as oil drillers jumped on Obama’s proposal to allow offshore oil and gas exploration in the Gulf of Mexico. The Nasdaq Composite fell 13 points or 0.5 percent. Big-cap tech weighed on the Nasdaq with names, such as Research In Motion down 1.3 percent. Shares of RIM were hit as rumors swirled yesterday that Apple was making an iPhone available on the Verizon Wireless Network. Crude oil continued to rally, adding another 1.7 percent to settle at $83.76 a barrel on the New York Mercantile Exchange. On the economic front, the Commerce Department said factory orders rose 0.6 percent in February, that’s down from the 2.5 percent jump in January, but slightly ahead of expectations for 0.5 percent growth. Thursday’s market will see the release of initial jobless claims for the week ended Mar. 27, along with February construction spending. Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Most Popular Stories Jesse James Enters Rehab To Save Marriage Cyber-Attacker Hacks Yahoo Email Accounts Of 8 Foreign Journalists In China Gisele Bundchen And Tom Brady Show Off Newborn Son At Sister’s Wedding Kate Gosselin Makes “DWTS” Partner Tony Dovolani Quit And Return Justin Bieber, Adam Lambert Headline Wango Tango Concert Ex-Bodyguard Calls Angelina Jolie “Self-Centered, Control Freak” Four Dead, Six Wounded In D.C. Drive-by Shooting BA Cabin Crew Ends Strike, National Rail Starts Legal Action To Avert Job Walk-Off Quarterback Tebow Still Hasn't Accepted NFL Draft Invitation North Carolina Squeaks By Rhode Island, Advances To NIT Finals. Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2010 AHN All Rights Reserved

Other News on Thursday, 1 April 2010
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US-ENTERTAINMENT Summary
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US-TECH Summary
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