SME Times is powered by   
Search News
Just in:   • Sensex down 60 points, IT & Media scrips fall  • Lack of formal financing a challenge for MSMEs: NeoGrowth founder  • PSBs post Rs 3,221 cr profits in H1: Mos Finance  • CGST falls short of budget estimate by 40pc in April-NovCGST falls short of budget estimate by 40pc in April-Nov  • More NBFCs to look for offshore financing in 2020: Fitch Ratings 
Last updated: 06 Oct, 2018  

NYSE.Thmb.jpg NYSE close lower amid economic data

NYSE.jpg
   Top Stories
» MSME sector's share in manufacturing 36.5 pc: Gadkari
» Govt may launch new e-commerce policy in FY20
» 'EXIM Bank to disburse $6-7 bn in project export finance'
» '5.70 lakh micro enterprises assisted under PMEGP'
» DPIIT to set up panels to sort out startups
IANS | 06 Oct, 2018
US stocks closed lower on Friday as investors digested a batch of key economic data.

The Dow Jones Industrial Average decreased 180.43 points, or 0.68 per cent, to 26,447.05. The S&P 500 decreased 16.04 points, or 0.55 per cent, to 2,885.57, Xinhua news agency reported.

The Nasdaq Composite Index fell 91.06 points, or 1.16 per cent, to 7,788.45.

The unemployment rate declined to 3.7 per cent in September, and total nonfarm payroll employment increased by 134,000, the US Department of Labor said on Friday.

However, the figure was well below the expected gain of 185,000.

Job gains occurred in professional and business services, in health care, and in transportation and warehousing, said the department.

In September, average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents to $27.24. Over the year, average hourly earnings increased by 73 cents, or 2.8 per cent.

Meanwhile, investors continued to fret over the rise in bond yields.

The 10-year note yield rose to 3.23 per cent and hit a fresh 2011 high on Friday.

The bond rates surge started on Wednesday, boosted by strong economic data. Meanwhile, recent comments from top Federal Reserve officials also stoked yields higher.

Fed Chair Jerome Powell on Wednesday said that the US central bank had a long way to go before interest rates hit neutral, indicating that more hikes could be on the horizon.

Strong data and commentary from Fed officials can be bullish for equities, but that comes with the side effect of having concerns on more inflation and interest-rate increases, which in turn is a negative for equities, experts said.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 10 Dec, 2019
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» MRF to set up a new plant in Gujarat(2)
» India software market grew 12.4% in H1 2019: IDC(1)
» Starting an import export business: Basic guide for beginners(1)
» "Govt's mantra Sabka Saath, Sabka Vikas, Sabka Vishwas"(1)
» Forex reserves rise by $2.48 bn to over $451 bn(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter