4 Sep 2015
US stocks added to weekly losses on Friday
FXStreet (Córdoba) - US stocks ended the day sharply down and recorded sharp weekly losses after US nonfarm payrolls data left investors wondering whether the Federal Reserve will raise rates at its September 16-17 meeting.
The Dow Jones Industrial Average fell 272 points or 1.66% to close at 16,102, recording a 3.3% loss over the week. The S&P 500 shed 29 points or 1.53% to end at 1,921, recording a 3.4% weekly loss. The Nasdaq Composite lost 49.58 points, or 1.1% to 4,683 and posted a 3% weekly loss.
US nonfarm payrolls showed economy added 177K new jobs in August, versus 220K expected. However, the unemployment rate dropped to 5.1% from 5.3% in July. Moreover, figures suggest more unemployed found jobs in August as the total number of unemployed people fell by 237,000 and the labor force dropped by 41,000.
The Dow Jones Industrial Average fell 272 points or 1.66% to close at 16,102, recording a 3.3% loss over the week. The S&P 500 shed 29 points or 1.53% to end at 1,921, recording a 3.4% weekly loss. The Nasdaq Composite lost 49.58 points, or 1.1% to 4,683 and posted a 3% weekly loss.
US nonfarm payrolls showed economy added 177K new jobs in August, versus 220K expected. However, the unemployment rate dropped to 5.1% from 5.3% in July. Moreover, figures suggest more unemployed found jobs in August as the total number of unemployed people fell by 237,000 and the labor force dropped by 41,000.