U.S. stocks fall after weak reading on jobs
NEW YORK (MarketWatch) — U.S. stocks finished mostly lower Wednesday as investors second-guessed how much a disappointing jobs report from the private sector would be reflected in the nonfarm payrolls report in two days. http://www.marketwatch.com/story/us-stocks-lo...=afterbell
“The market is shrugging off the news on thinking Friday’s payrolls number isn’t necessarily going to follow,” said Peter Boockvar, equity strategist at Miller Tabak.
ADP Employer Services on Wednesday said companies added 119,000 workers last month, with the data released two days before the Labor Department report, which is projected to illustrate payrolls picked up in April. The Labor Department report includes both private- and public-sector payrolls. Read more on ADP private-sector jobs report.
The Dow Jones Industrial Average (DJI
JIA) fell 10.75 points, or 0.1%, to 13,268.57.
The S&P 500 Index (SNC:SPX) shed 3.51 points, or 0.3%, to 1,402.31, with energy falling hardest and consumer discretionary faring best among its 10 major sectors.
The Nasdaq Composite (NASDAQ:COMP) added 9.41 points, or 0.3%, to 3,059.85.
Advancers ran just ahead of decliners on the New York Stock Exchange, where 780 million shares traded. Composite volume neared 3.8 billion.
