Wall Street slides one percent after jobs report
NEW YORK (Reuters) - Stocks fell more than 1 percent on Friday after a disappointing jobs report underlined concerns the economic recovery may be slowing. Employers decreased hiring for the third straight month, adding 115,000 workers in April, well below forecasts of 170,000. The unemployment rate fell to 8.1 percent from 8.2 percent. "The market has been overextended, and with payrolls so much weaker than expected, it's no surprise that we're getting a pullback," said Elliott Roman, managing director at trading firm Direct Access Partners in New York. ...
April hiring seen picking up
WASHINGTON (Reuters) - Employers likely increased hiring in April, although not enough to lower the country's 8.2 percent jobless rate, keeping pressure on President Barack Obama ahead of his November re-election bid. Employers likely added 170,000 workers to their payrolls last month, according to a Reuters survey of economists, up from March's meager print of 120,000. That would allay fears the economy is losing momentum. But it also could dampen hopes that a stretch of strong winter hiring signaled a turning point for the economic recovery. ...
Wall Street falls on disappointing data
NEW YORK (Reuters) - U.S. stocks were lower on Wednesday as a weaker euro zone report heightened concerns about the region's fiscal health and domestic data casts doubt on the strength of the economic recovery. A report by payrolls processor Automatic Data Processing showed U.S. private employers added 119,000 jobs in April, well short of expectations, ahead of Friday's key payrolls report. Euro zone factories sank further into decline last month, with the downturn hitting Italy and Spain hard and appearing to take root in France and Germany. ...
Rise in factory activity lifts shares, euro soft
LONDON (Reuters) - European shares joined in a worldwide rally on Wednesday after strong U.S. factory activity data and a pickup in Asia raised hopes of a global economic recovery, but fears over the health of the euro zone kept the single currency under pressure. However, investors in Europe, returning after the May Day holiday, were unlikely to take on big risk positions ahead of a European Central Bank meeting on Thursday and weekend elections in Greece and France which could herald a softening in austerity measures. Friday's U.S. ...
Dow hits four-year high, lifted by factory data
NEW YORK (Reuters) - The Dow closed at its highest level in more than four years on Tuesday after U.S. manufacturing expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery. The Dow now sits at levels not seen since December 2007. The gains leave the benchmark S&P 500 within about 16 points of a high reached in May 2008. A convincing break above that level could set the market up for more gains, traders said. ...
Wall Street climbs as economy fears ease
NEW YORK (Reuters) - Stocks rallied on Tuesday and the Dow hit its highest level since December 2007, after data showed the manufacturing sector expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery. With most markets in Europe and several major Asian markets closed for the May Day holiday, investors shifted their attention to U.S. economic data. Data from the Institute for Supply Management showed growth in U.S. manufacturing improved, coming in at its strongest rate in 10 months in April. ...
Wall Street set to open flat ahead of data
NEW YORK (Reuters) - Stocks were set for a flat open on Tuesday ahead of data on the manufacturing sector that could offer evidence on the pace of the economic recovery. The S&P 500 closed April with its first monthly decline since November as economic data pointed to a slowing domestic economy and continued flare-ups in the euro zone highlighted the risks of the region's debt crisis. Investor focus will be dominated by the United States as a number of European and Asian stock markets, including ones in Germany, France and Italy, are closed on Tuesday for the May Day holiday. ...
China data points towards economic recovery
BEIJING (Reuters) - China's official purchasing managers' index (PMI) rose to a 13-month high in April, signaling the economy has found a footing and may be recovering from a first-quarter trough, but smaller factories are still struggling. The pick-up in the PMI to 53.3 from 53.1 in March indicated a further expansion in the vast factory sector, although it was slightly below market expectations of 53.6. Readings above 50 signal expansion while those below 50 point to contraction. The manufacturing output sub-index rose to 57.2 from 55.2 in March. ...
Wall Street down; S&P on track for monthly loss
NEW YORK (Reuters) - U.S. stocks fell on Monday, putting the S&P 500 on track for its first monthly decline since November, after data hinted the U.S. economic recovery is stalling and Spain's fall back into recession underscored nagging euro zone stresses. The S&P's four-day rally was in jeopardy as it fell below the technically important 1,400 level. The S&P closed above 1,400 for the first time in three weeks on Friday and that point has been a key resistance for weeks. A merely modest boost in U.S. ...
More companies planning to hire: NABE survey
WASHINGTON (Reuters) - Companies are modestly stepping up hiring plans and increasingly report that wages are rising, according to a survey on Monday that suggested the economic recovery is gaining some traction. The National Association of Business Economics' industry survey found that 39 percent of respondents expect hiring will pick up in their companies and industries during the next six months, up from 27 percent in January. Some 48 percent of respondents expect hiring will hold steady. ...
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