Penalized by the employment figures, Wall St. ends down
The U.S. stock markets ended the week on a negative note as investors considered disappointing figures sanctioning of the ADP survey on employment aroused fears about the growth in the U.S..
The U.S. economy created far fewer jobs than expected in June and the unemployment rate reached 9.2%, its highest level since December, according to official statistics released Friday.
"This is an appalling record of employment, but that would have caused less surprise.The U.S. labor market will more than a few weeks to get rid of the slow growth of the last two quarters, "said Rob Carnell of ING.
The Dow Jones dropped 0.49% Friday, 62.29 points, to 12,657.20, the S & P 500 benchmark index fund managers, has sold 0.70%, 9.42 points, 1343.80 and Nasdaq, heavily weighted technology, lost 0.45%, 12.85 points, to register for 2859.81.
"If the employment figures are disturbing, it's still better to wait for results before the season to panic," said Phil Dow, RBC Wealth Management.
"In our view, profits and sales should be much better than expected, and with the current valuations, go to the market is very attractive."
Alcoa, as usual, will be the first industrial group to publish its results, then followed by JPMorgan, Citigroup and Google.
The Internet giant has also yielded 2.67% Friday to 531.99 dollars, as reacting to the lowering of the recommendation from Morgan Stanley, had to "market weight", citing concerns over margins .
Other values of the day, the group of internet recruitment Monster Worldwide dropped 3.17% to 14.65 dollars following the release of U.S. employment figures.