Stocks on Wall Street continued the week's yo-yo trend with a sight decline as investors adopted a cautious mood ahead of the monthly US payrolls report.The Dow Jones Industrial Average closed down 5.45 points, or 0.05%, to 10,674.98.In economic news, ini
Stocks on Wall Street continued the week’s yo-yo trend with a sight decline as investors adopted a cautious mood ahead of the monthly US payrolls report.
The Dow Jones Industrial Average closed down 5.45 points, or 0.05%, to 10,674.98.
In economic news, initial jobless claims unexpectedly rose, while retailers reported mixed July same-store sales. Claims rose to the highest level in nearly four months, raising concerns about the labor market's recovery.
The last time claims were this high was the week of April 10. US data on non-farm employment are scheduled to be released on Friday.
The Nasdaq Composite was down 0.5% to 2293.06 and the S&P 500 index was off 0.1% at 1125.81.
Other markets: Europe down, Asia up
European stock markets finished lower as downbeat comments from the head of the European Central Bank wiped out earlier gains.
Both the Bank of England and the ECB said they would keep interest rates unchanged, as expected. But ECB president Jean-Claude Trichet said the economy might be less buoyant in the second half of the year.
At the close, regional indexes had fallen from their highs of the day. The Stoxx Europe 600 index ended down 0.2% at 261.48.
France's CAC-40 finished flat at 3764.19, while Germany's DAX also ended flat at 6333.58. The UK's FTSE 100 index, however, finished down around 0.4% at 5365.78.
In Asia, Japanese stocks surged higher as the yen slipped back against the dollar. The Nikkei Stock Average ended 1.7% higher at 9653.9. China's Shanghai Composite fell 0.7% to 2620.76.
In Hong Kong, Cathay Pacific Airways extended its gains after posting a strong profit; the stock rose 4.8%. The Hang Seng index ended flat at 21551.72.
In Sydney, the S&P/ASX 200 was up 0.5% at 4566.50 while Korea’s Kospi Composite fell 0.3% to 1783.86.
Commodities: Oil down, gold up
Crude futures dropped on the rise in US jobless claims.
Light, sweet crude for September delivery traded 61USc, or 0.7%, lower at $US81.86 a barrel in New York. Brent crude on the ICE futures exchange traded 74USc, or 0.9%, lower at $US81.46 a barrel.
Gold futures fluctuated around the $US1200 an ounce mark. The most actively traded contract for December delivery rose $US1.70, or 0.1%, to $US1197.60 an ounce in New York.
Currencies: Dollar, euro down
The US dollar weakened against the yen after the disappointing US jobs figures. The euro surrendered its advance above $US1.32 as investors exited riskier assets.
The euro was at $US1.3158, compared with $US1.3164 late on Wednesday. The dollar was at ¥85.91, from Y86.33. The euro moved to ¥113.04 from ¥113.65.
