Stocks Erase Early Gains, Despite Strong Jobs Report


0  Updated at 10:04 am, July 5th, 2013 By: ABC Digital
Share This Story

iStockphoto/Thinkstock(NEW YORK) — U.S. stocks took a negative turn Friday morning, giving up nearly all of its 116-point gain posted in early trading.

Just an hour after the release of a strong jobs report showing that employers had added 195,000 jobs in June, stock index futures rose as well as 10-year treasury bonds. However, the Dow Jones Industrial Average was up only 29 points at 15,017 in late morning trading on Friday.

According to one analyst who spoke to The Wall Street Journal, U.S. market activity was thin for a day with a jobs report, which usually carries heavier trading.  The light activity was likely due to closed markets on Thursday for the July Fourth holiday. With that closure, stocks missed a global rally from a report that the European Central Bank would keep interest rates low, the Journal reported.

Copyright 2013 ABC News Radio

Stories You May Be Interested In:

Those who love all things yarn connect in east Idaho

17 Sep 2017

Carrie Snider,

New home furnishing store coming to Ammon area

11 Sep 2017

Paul Menser, Bizmojo Idaho

Apple unveils iPhone X

12 Sep 2017

Heather Kelly, CNN

Construction begins on I-15 interchange project

18 Sep 2017

Shelbie Harris, Idaho State Journal

Leave a Reply

Your email address will not be published. Required fields are marked *