Stocks close out week lower

May 4, 2012 at 6:18 PM   |   0 comments

NEW YORK, May 4 (UPI) -- U.S. stocks closed lower for the week after the Labor Department said 115,000 jobs were added to the economy in April, far fewer than expected.

Although the department revised its job-gains estimate for March from 120,000 to 154,000, the report was seen as evidence that a recovery in the labor market had stalled.

By close of trading on Wall Street, the Dow Jones industrial average shed 168.32 points, 1.27 percent, to 13,038.27. The tech-heavy Nasdaq composite index lost 67.96 points, 2.25 percent, to 2,956.34. The Standard & Poor's 500 index lost 22.47 points, 1.61 percent, to 1,369.10.

The DJIA opened the week at 13,228.31 points. The Nasdaq index opened Monday at 3,069.20. The S&P 500 opened Monday at 1,302.36.

On the New York Stock Exchange, 759 stocks advanced and 2,286 declined on a volume of 3.9 billion shares traded.

The 10-year benchmark treasury note was yielding 1.886 percent.

The euro fell to $1.3093 from Thursday's $1.3152. Against the yen, the dollar fell to 79.88 yen from 80.17 yen.

In London, the FTSE 100 index dropped 1.93 percent, 111.49, to 5,655.06.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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