US Stocks Edge Lower As Data Points To Solid Jobs Report
Fahad Shabbir (@FahadShabbir) Published August 31, 2016 | 10:43 PM
NEW YORK, (APP - UrduPoint / Pakistan Point News - 31th August, 2016) : US stocks edged lower in cautious opening trade Wednesday as ADP private sector hiring data pointed to a solid July employment report this week. Oil shares dropped as crude prices continued their 10-day slide amid worries of no action by producers to curtail the market glut. Five minutes into trade, the Dow Jones Industrial Average lost 0.2 percent at 18,417.93.
The broad-based S&P 500 fell 0.2 percent at 2,171.04, while the tech-rich Nasdaq Composite lost 0.2 percent to 5,210.41. The ADP payrolls firm said US businesses added a solid 177,000 new staff in July, pointing to a likely good Labor Department employment report for the month on Friday. A strong jobs report could tip the balance at the Federal Reserve toward a long-awaited interest rate increase, as soon as late September.
Related Topics
Recent Stories
Fresh wave of rainfall in AJK continues for the second consecutive day
Babar, bowlers help Pakistan level series 2-2 against New Zealand
Attack in restive Chilean province leaves three police officers dead
PM, Saudi Royal court advisor discuss ways to boost economic ties
England clinch third successive Women's Six Nations Grand Slam
DC Bahawalnagar leads fight for fair bread prices
Sheffield Utd relegated from Premier League
02 proclaimed offenders arrested by Wah Police
Pakistan level T20I series with nine-run victory over New Zealand
Minister meets Chinese Consul General, discusses bilateral cooperation, Chinese ..
MS Children Hospital takes over charge
3 dacoits arrested, illegal weapons recovered
More Stories From World
-
Liverpool Premier League title hopes suffer blow, Sheffield Utd relegated
16 minutes ago -
Attack in restive Chilean province leaves three police officers dead
22 minutes ago -
Magnitude 6.5 earthquake strikes off Indonesia's Java island: authorities
54 minutes ago -
Irish training legend Mullins steeped in history
2 hours ago -
20 Cambodian soldiers killed in ammunition base explosion: PM
3 hours ago -
20 Cambodian soldiers killed in ammunition base explosion
3 hours ago
-
Spanish PM's supporters turn out and beg him to stay
5 hours ago -
Russia hits Ukrainian energy sites in 'massive' attack
5 hours ago -
Spanish PM's supporters turn out and beg him to stay
6 hours ago -
Duplantis sails to victory in Suzhou, Simbine beats Coleman
6 hours ago -
Hamas says studying new Israeli truce proposal
6 hours ago -
Italy summons Russian envoy over Ariston subsidiary takeover
6 hours ago