DJIA slightly fell to 10,674.98 or 5.45 points (-0.05%), Nasdaq also eased 0.46% or 10.51 points to 2,293.06, while S&P 500 index slipped 0.13% to 1,125.81 (-1.43 points). Disappointing jobs data sent investors into cautious stance as the nonfarm payrolls data is set for release on Friday.
Government data shows that temporary employment for census fell by 144,000 during the survey period, while the government payrolls may decline to as much as 175,000 as government slashed budget. In June drop in government payrolls reached 208,000 in June. Both may not be offset by the rise in private-sector hiring which probably at around 42,000 as suggested by the ADP report earlier this week. Marketwatch poll shows a drop of 60,000 jobs is expected in July, compared to a drop in June which amounted to 125,000. In addition, jobless claims hit 479,000, higher than the expected 453,000 also higher than previous week’s number of 460,000. Other data pending for release include Average Hourly Earnings (consensus/prior:+0.1%/-0.1% [mom];+1.6%/+1.7% [yoy]) and unemployment rate (9.6%/9.5%).
American Express, Pfizer, and Microsoft were top losers as each lost 2.02%, 1.52%, and 1.4%, respectively.
Government data shows that temporary employment for census fell by 144,000 during the survey period, while the government payrolls may decline to as much as 175,000 as government slashed budget. In June drop in government payrolls reached 208,000 in June. Both may not be offset by the rise in private-sector hiring which probably at around 42,000 as suggested by the ADP report earlier this week. Marketwatch poll shows a drop of 60,000 jobs is expected in July, compared to a drop in June which amounted to 125,000. In addition, jobless claims hit 479,000, higher than the expected 453,000 also higher than previous week’s number of 460,000. Other data pending for release include Average Hourly Earnings (consensus/prior:+0.1%/-0.1% [mom];+1.6%/+1.7% [yoy]) and unemployment rate (9.6%/9.5%).
American Express, Pfizer, and Microsoft were top losers as each lost 2.02%, 1.52%, and 1.4%, respectively.
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