Published: 2009/09/03
NEW YORK: US stocks dipped in choppy trade Wednesday, extending losses a third day, after a worse-than-expected nonfarm payrolls report added to concerns ahead of Friday’s key August jobs data.
The Dow Jones Industrial Average fell 29.93 points (0.32 per cent) to finish at 9,280.67, the fourth consecutive close in the red for the blue-chip index.
The tech-heavy Nasdaq composite dropped 1.82 points (0.09 per cent) to 1,966.76 and the broad-market Standard & Poor’s 500 index retreated 3.29 points (0.33 per cent) to 994.75.
A worse-than-expected reading on private sector jobs raised alarm ahead of the government data on August nonfarm employment due Friday.
Payrolls firm ADP reported the US nonfarm private sector shed 298,000 jobs in August, the smallest number of jobs in nearly a year.
The number topped the average consensus forecast of a cut of 250,000 jobs.
“The ADP Employment Change report helped put a damper on rebound aspirations,” said Patrick O’Hare of Briefing.com.
“The knee-jerk selling following the ADP number goes to show how Tuesday’s losses left participants a bit more skittish than before.” -- AFP
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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