Key Jobs Reports sends US Stocks falling

By noon, the Dow Jones Industrial Average lost 65.27 points, or 0.39 percent, to 16,834.05. The S&P 500 fell 7.71 points, or 0.39 percent, to 1,978.74. The Nasdaq Composite Index was down 25.78 points, or 0.55 percent, to 4,677.64.

On the economic front, in the week ending Feb. 27, the advance figure for seasonally adjusted initial claims was 278,000, an increase of 6,000 from the previous week’s unrevised level and beating market estimates, according to the U.S. Labor Department Thursday.

The U.S. non-manufacturing index registered 53.4 percent in February, down from the January reading of 53.5 percent, the Institute Supply Management (ISM) reported Thursday.

Traders were looking to the non-farm payrolls report and more hints on future monetary policy at the U.S. Federal Reserve’s March meeting.

U.S. stocks ended higher Wednesday after wavering in a tight range, as Wall Street digested a better-than-expected ADP employment report ahead of Friday’s key jobs report. Enditem

Source: Xinhua