Stocks Slide as Markets Mull Employment Numbers
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iStock/Thinkstock(NEW YORK) –Stocks on Wall Street fell Thursday when two employment reports offered a mixed picture of the job economy.
The Dow Jones Industrial Average lost 9 points to end the day at 17069.52, the Nasdaq Composite slipped 10 points, finishing at 4562.29, and the S&P 500 dropped 3 points, closing at 1997.66.
The Labor Department reported an uptick in jobless claims last week, with an increase of 4,000 people filing for new benefits. But a private survey from payroll processing firm ADP found that employers added 204,000 new jobs in August. While the figure is less than anticipated, experts say it’s in line with a slowly improving market.
BP stock fell more than 5 percent after a federal judge ruled the multinational oil and gas company was negligent in the 2010 Gulf oil spill.
Restaurant chain El Pollo Loco released its first report since going public, though the company’s second quarter numbers fell short of expectations.
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