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Stocks slip on tepid jobs report

Oct. 2, 2013 at 5:09 PM   |   Comments

NEW YORK, Oct. 2 (UPI) -- Stocks on Wall Street closed lower Wednesday after an employment report for September came in short of expectations.

Automatic Data Procession Inc., a payroll firm, said 166,000 jobs were added to the economy in September, well short of the 180,000 new jobs expected. In addition, the firm revised its job total for August lower, dropping a previous estimate of 176,000 down to 159,000.

The Dow Jones industrial average closed with a loss of 58.56 points or 0.39 percent to 15,133.14. The Standard & Poor's 500 gave up 0.07 percent or 1.13 points to 1,693.87. The Nasdaq dropped 0.08 percent or 2.96 points to 3,815.02.

On the New York Stock Exchange, 1,3409 issues advanced while 1,700 declined on volume of 3.1 billion shares traded.

The 10-year U.S. treasury note rose 3/32 to yield 2.622 percent.

In Japan, the Nikkei 225 index gave up 2.17 percent or 314.23 points to 14,170.49. The Hang Sent index in Hong Kong added 0.55 percent, 124.62 points, to 22,984.48.

In Europe, the London FTSE shed 0.35 percent or 22.51 points to 6,437.50, while the German DAX lost 59.72 or 0.69 percent to 8,629.42 and the French CAC was off 0.92 percent or 38.44 points to 4,158.16.

On currency markets, the euro was fell to $1.3581 and the dollar fell to 97.36 yen.

Crude oil added $1.82 cents or 1.78 percent to $103.85 on the New York Mercantile Exchange. On the Comex division, gold added $30.90 or 2.39 percent to $1,316.80 per troy ounce while silver gained 60 cents or 2.83 percent to $21.78.

On the Chicago Board of Trade, December corn held steady at $4.39 a bushel, November soybeans added 6 1/2 cents to $12.74 1/2 and December wheat added 4 1/4 cents to $6.85 1/2.

© 2013 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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