Major US stock indexes fell on Thursday after data pointed to slowing jobs growth in June. The number of Americans who first applied for unemployment benefits rose last week, but the level remains historically low. In the United States, employers have continued to add jobs in June, but wages remained unchanged, and the level of participation has fallen, suggesting that signs of weakness remain in the labor market. The number of people employed in non-agricultural sectors of the economy increased from a seasonally adjusted 223,000 in June, the Labor Department said Thursday. This revised earlier data showed a weak job creation this spring than originally anticipated. Employers added 254,000 jobs in May compared with the initially reported 280 000. The April gain was revised up to 187,000 from 221,000.
However, initial applications for unemployment benefits, an indicator of layoffs throughout the US economy has increased by 10,000 and reached a seasonally adjusted 281,000 in the week ended June 27. Economists expected 270,000 initial claims last week. The level of applications in the previous week remained unchanged at 271 000. The Labor Department said that no special factors did not affect the latest data on applications.
It should also be noted that US factory orders fell in May, the most in three months, while the key category indicates that business investment plans fell for a second month in a row. Factory orders fell by 1% in May from April, when orders fell by 0.7%. Orders in the category, which serves as an indicator of business investment decreased by 0.4% after a 0.7% decrease in April.
Most components of the index DOW finished trading in negative territory (16 of 30). Outsider shares were EI du Pont de Nemours and Company (DD, -2.21%). Most remaining shares rose Intel Corporation (INTC, + 1.47%).
Sector of the S & P closed mostly below zero. Outsiders were conglomerates sector (-1.6%). Most of the basic materials sector increased (+ 0.8%).
At the close:
Dow -0.16% 17,729.08 -28.83
Nasdaq -0.08% 5,009.21 -3.91
S & P -0.04% 2,076.67 -0.75