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Stocks Lose Ground Despite Positive Jobs Reports

Business

0  Updated at 3:00 pm, July 5th, 2012 By: ABC Digital
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Hemera/Thinkstock(NEW YORK) — An encouraging weekly employment report didn’t do much to help the markets Thursday.

The Dow closed down 23 points to 12,920. The Nasdaq added four points to close at 2,980. The S&P closed at 1,370 with a four point loss for the session.
 
It’s still difficult to find a job, but there are some signs that that could be changing.  The number of people filing first-time claims hit its lowest level since mid-May, and the new payroll report from ADP showed a rise in employment during June.
 
The June unemployment numbers come out on Friday.
 
Meanwhile, it’s a good time to buy a home if you can qualify for a mortgage. Freddie Mac says they’re down to new record lows.  A thirty-year loan averages 3.62 percent.  A 15-year mortgage is down to 2.89 percent.

Copyright 2012 ABC News Radio


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