Finds weak hiring by businesses Effect Stocks drop ahead of long holiday weekend as June jobs report
Finds weak hiring by businesses Effect Stocks drop ahead of long holiday weekend as June jobs report
NEW YORK (AP) – A disappointing jobs report sent stocks fall on Friday and gave the Dow Jones Industrial Average to its longest winning streak since losing to the worst days of the financial crisis. 
The Dow fell 46 points on Friday for their seventh straight loss, the longest streak since October 2008. The Dow and other indexes losses for the second week in a row.
Investors find new reasons to fear that the economic recovery is losing momentum after the government announced that the month of the 83 000 private sector jobs last less than 112,000 employers, that the analysts had expected.
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Trading day before the Independence Day long weekend Light movement was excited, especially the last hour. The Dow was essentially unchanged at just the last five minutes before closing the sliding door.
Reports on employment in the past week has decreased expectations for the last snapshot and the most important labor market. ADP Payroll Company reported private sector employment is weaker than expected, while the government unexpectedly increased in these initial applications for unemployment benefits last week.
Investors focus on companies that rent because it is more than workers in the country. Moreover, the number of jobs in recent months the numbers wrong by a survey of temporary workers. With many of these jobs are gone, it was again clear that the company wages and salaries as quickly as most investors.
“The shopkeeper, who play here, refuses,” said Linda Duessel, analyst at Federated Investors in Pittsburgh. She said not to do business, to rent the trust, and in some cases, to temporary workers. The themes of the permanent contract is feared that the economy slips. Many economists say it is unlikely, but still a concern.
to “We must, as a market that we believe that the double-dip scenario is doing wrong”, Düsseldorf said, referring to the possibility of half of the recession. “A soft patch normal.”
She said to increase the reports earnings forecast for the quarter April-June to the vote if the companies are optimistic forecasts.
The government has reduced the count of 225,000 jobs in June, 125 000 workers lost their jobs last month, more than analysts forecast down to 110,000. The unemployment rate fell unexpectedly to 9.5 percent from slipping 9.7 percent. The economists surveyed by Thomson Reuters had expected to rise by 9.8 percent. However, the decline that some people are looking for a job. In other words, they were not counted among the unemployed.
The government also reported that factory orders fell in May for the first time in nine months. The percentage of 1.4 was the biggest decline since March 2009, as major stock indexes to a low level in 12 years. The decline upset because the dealers and is one of the most important, as the economy.
The pessimism is growing since the end of April on the health of the global economy. Debt problems of Greece and other European countries has given way to concerns about given the pace of recovery in the United States. The Dow Jones fell by 10 percent for the second quarter, which ended Wednesday, while the Standard & Poor’s 500 index lost 11.9 percent.
“Obviously there is a loss of speed,” Bob Baur, chief global economist at Principal Global Investors, said of the salvage. He said the shares could undermine confidence in the economy foil injured. But he says that a double-dip probably because the income is higher and slower consumer spending rose slowly. “We do not see the things that a typical recession started,” said Bauer.
The Dow Jones fell 46.05, or 0.5 percent, to 9686.48, the lowest closing price since the Release 5 October 2009. The Dow is not just for seven days since the loss of eight days ending 10.10.2008 declined.
The Standard & Poor’s 500 index fell 4.79, or 0.5 percent, to 1022.58.
The Dow is now 13.6 2010 high of 11,205.03, while the S & P 500 is up 16 percent from its peak of 1217.28.
The Nasdaq Composite Index fell 9.57, or 0.5 percent, to 2091.79 on Friday.
For the week, the Dow Jones fell by 4.5 percent. The S & P 500 lost 5 percent, while the Nasdaq fell by 5.9 percent.
The S & P 500 index fell two weeks is the worst since the beginning of May
Demand for Treasury bills after the addition earlier this week weakened as investors sought a safe haven for their money. The yield on the 10-year note, which moves opposite the price was up 2.98 percent from 2.95 percent late Thursday. The output is used as reference for interest on certain mortgages and other loans.
Crude oil fell 81 cents to $ 72.14 a barrel on the New York Mercantile Exchange. Gold rose.
Daniel Penrod, chief analyst for the California Credit Union League branch, said that some companies pay dividends until it is used more certainty about the economy.
“I do not really have a company with great risks to build now, if they do not believe that people go through the door,” said Penrod.
Next week could bring more insight into the economy, as companies look for clues about their earnings and their forecasts drop. U.S. markets are closed on Monday on the occasion of Independence Day. Tuesday brings a report on the service industry, most of the economy.
Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume was compared on 4000000000 6.2 billion shares Thursday.
The Russell 2000 index of smaller companies fell 5.79, or 1 percent, to 598.97. The Russell fell 7.2 percent for the week.
FTSE 100 in Britain rose by 0.7 percent, the German DAX index fell by 0.4 percent and the French CAC-40 rose by 0.3 percent. The Japanese Nikkei Stock Average was up 0.1 percent.
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