Wall St. Slumps After Dismal Jobs Report - News Summed Up

Wall St. Slumps After Dismal Jobs Report


Banks and other financial companies led a modest decline in U.S. stocks Friday after a report indicating that hiring had slowed sharply in May put investors in a selling mood. The Labor Department reported that the U.S. economy added only 38,000 jobs in May, the lowest amount in five years. The stock rose $3.99 to $46.47. The stock added 76 cents to $19.09. The downbeat jobs data appeared to convince traders that the Federal Reserve will keep interest rates low longer than previously expected.


Source: New York Times June 03, 2016 14:23 UTC



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