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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles U.S. Markets Continue Decline On Jobs, Factory Data Email Facebook Digg Twitter Buzz Up! ShareThis July 2, 2010 5:41 p.m. EST Topics: market and exchange, economy, business and finance, securities, United States Mitchell Jaworski - AHN News Reporter New York, NY, United States (AHN) - U.S. markets finished lower heading into the holiday weekend as unemployment numbers and data from the factory space did little to inspire buyers. Before the opening bell, the Labor Department said payrolls declined by 125,000 in June. The result was worse than expected as economists predicted a 100,000 decline from the impact of census workers being let go. The unemployment rate did improve, contracting to 9.5 percent, better than the 9.8 percent expected. However, a portion of the improvement was due to the removal of unemployed people who are considered no longer looking for work. The market did not take too well to the data, selling off throughout the morning. The Dow Jones Industrial average was able to pare some losses in the afternoon, finishing down 46 points or 0.5 percent. Friday’s decline marks the seventh straight down day for the blue-chip index. The S&P 500 shed 5 points or 0.9 percent as seven of 10 major economic sectors finished the session lower. Consumer discretionary names weighed on the index most, down 1.2 percent, as continued high unemployment may led to consumers tightening up their budgets some more. The Nasdaq Composite fell 10 points or 0.5 percent. No clear laggard stood out in the tech space with the decline being rather broad-based. Crude oil sold off as well, down 1.1 percent to settle at $72.14 a barrel. The decline marks the fifth straight down day for the commodity. In economic news, U.S. factory orders tumbled 1.4 percent in May, following a 1 percent rise in April. Economists had expected a smaller decline of 0.6 percent. The data was worrisome as the manufacturing sector has been the strongest driver in the economic rebound. U.S. markets are closed Monday Jul. 5 in observation of Independence Day and will re-open on Tuesday. 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 Feds Shut Down Websites Pirating Movies Qatar’s Population Doubles in 6 Years Jonas Brothers And Demi Lovato Add New Tour Dates, Cancel Others Budget-less, Schwarzenegger Orders Minimum Wage For State Workers Theaters Pull "Paranormal Activity 2" Trailer After Complaints Its Too Scary Kelsey Grammer Tweets Divorce From 3rd Wife Pierce Re-signs With Celtics; Blake Joins Lakers Pacquiao Could Face Mayweather On Nov. 13 World Cup: Brazil-Netherlands Tilt Highlights Quarterfinals Action Report: Influenza A (H1N1) Cost U.K. $1.86 Billion 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 Saturday, 3 July 2010
Petraeus arrives in Afghanistan as Taliban attack kills five
Betancourt returns to Colombia two years after release
The Times starts charging for online content
Kurd conflict comes back to haunt Turkey before polls
China hits out at EU modem probe
French civil servant rapped over tell-all book
Falling unemployment fails to quell US recovery fears
U.N. peacekeepers face tensions in southern Lebanon |
Obama To Grant $795 Million For Rural Broadband Internet
Apple to issue patch for iPhone 4 antenna woes
Petraeus arrives in Afghanistan as Taliban attack kills five
New German president sworn in after vote drama
USAID compound attacked in Afghanistan; 4 killed
Feds Shut Down Websites Pirating Movies
"Eclipse" Stars To Surprise Fans In Select Theaters
Obama announces broadband grants to spur jobs
Apple's PR Says Jobs "Relax" Email Is A Fake
Nokia aims to be the best with Symbian, MeeGo-Vanjoki
Mexico arrests man for killing U.S. consulate staffer |
U.S. Presidential Survey Has FDR On Top, Bush Among Worst
Bank of China to raise $8.9 bln in rights issue
U.N. creates new body on women, gender equality |
Gunmen kill senior Iraqi Sunni cleric |
Florida Officials Say 35 Dead Seabirds On Atlantic Coast Not From BP Spill
Consumer Bankruptcies Up 14 Percent In First Half Of 2010
U.S. Expresses Shock Over Bombing Of Pakistani Shrine
Nokia aims to be the best with Symbian, MeeGo-Vanjoki
U.S. Unemployment Rate Improves In June
U.S. Offers To Sell Top Weapons Systems To India
No change in Afghanistan strategy: NATO chief
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25 hurt in fresh protests in curfew-hit Indian Kashmir
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Okinawa city to sue Japan over US base issue
Nine killed in two days of attacks in Thai south: police
S.Korean PM likely to offer resignation: report
India hikes interest rates by 25 basis points
Bank of China to raise $8.9 billion
Casket Of First Michigan Governor Lost And Found
California Assembly Approves $20 Million Settlement For Kidnap Victim And Daughters
Yale finds Velazquez masterpiece in storage
Dutch celebrate World Cup win over Brazil
Poll shows polarisation in Serbian attitudes towards gays
French photo festival puts Jagger in spotlight
Romantic movies? Not Helen Mirren's cup of tea |
Iron Maiden explores "Final Frontier" on new album
Phil Collins brings Motown "heatwave" to Montreux
New Afghan war commander appeals for united battle
Two Russian spies reveal true identity
US-TECH Summary
Gen. Petraeus calls for unity in Afghanistan war
Israel's Netanyahu says wants better ties with Turkey
Tibetan environmentalist jailed for 5 years |
World's biggest cake melting in Paris heatwave
Oil spill claims arriving faster than BP can pay them
Republicans Blame Obama for Stalled Immigration Reform
Jonas Brothers And Demi Lovato Add New Tour Dates, Cancel Others
S.Africa judge drops drugs charge against Paris Hilton
Lilith Fair Cancels Ten Tour Dates
S.African judge drops drugs charges against Paris Hilton
BP Oil Containment Effort Suffers Setbacks
US judge orders Russia spy suspects stay detained
Paris Hilton arrested after Brazil World Cup match: reports
U.S. Markets Continue Decline On Jobs, Factory Data
Russian cargo ship fails to dock with ISS
Colombian rebels planting landmines in Panama: government |
Moynihan, as Nixon aide, warned of global warming
Suspect in killing of 2 Fla. officers surrenders
New Australia PM says boatpeople next priority
Lawyer: NY spy suspect's dad told her to see cops
Top Indian Maoist leader killed: police
Hillary Clinton tells Ukraine door to NATO open
India cricket chiefs to decide fate of suspended IPL boss
Maldives extends MPs' house arrest as crisis drags
Tibetan environmentalist jailed for 5 years
Protests as 'The Cove' hits Japanese cinemas
Third spy arrested over assassination attempt in SKorea
Children of accused spies confront identity crisis
Paris Hilton questioned by police after Cup match
China transparency urged year after Xinjiang bloodshed
Japan donates 10 million dollars for Galapagos solar energy
Kyrgyzstan swears in caretaker president
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US-ENTERTAINMENT Summary
Protests, police at Japan opening of "The Cove"
Newspapers look for ways to profit in Internet age
Paris Hilton questioned by police after Cup match
Judge drops charges in Calif. paparazzo attack
Minogue aims to spread the love with "Aphrodite"
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Romantic movies? Not Helen Mirren's cup of tea
Paris Hilton questioned by police after Cup match |
Lady Gaga heads for 10 million Facebook fan record |
Protests, police at Japan opening of The Cove |
Health issues don't slow down Bret Michaels |
Judge drops charges in Calif. paparazzo attack |
Minogue aims to spread the love with Aphrodite |
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Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
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Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

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