U.S. stocks fall ahead of key jobs report

NEW YORK, Oct. 6 (Xinhua) -- Wall Street's major indexes sank on Thursday as investors anxiously awaited the upcoming U.S. jobs report for September.

The Dow Jones Industrial Average fell 346.93 points, or 1.15 percent, to 29,926.94. The S&P 500 was down 38.76 points, or 1.02 percent, to 3,744.52. The Nasdaq Composite Index decreased 75.33 points, or 0.68 percent, to 11,073.31.

Ten of the 11 primary S&P 500 sectors ended in red, with utilities and real estate down 3.3 percent and 3.2 percent, respectively, leading the laggards. Energy rose 1.82 percent, the lone gaining group.

A climb in Treasury yields weighed on stocks. The yields on the benchmark U.S. 10-year Treasury and the 2-year Treasury note both advanced on Thursday after a retreat seen earlier this week.

The equity markets have usually moved negatively with bond yields, as higher bond yields would make equity investments less attractive.

The U.S. Labor Department reported Thursday that the nation's initial jobless claims, a rough way to measure layoffs, increased by 29,000 to 219,000 in the week ending Oct. 1. Economists polled by The Wall Street Journal had forecast new claims to total 203,000.

The more-closely watched September U.S. employment situation report is set to be released by the department on Friday.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

Factbox-Western governments struggle to agree on Russian oil price cap
Starters of USA against Iran in World Cup Group B
Starters of Wales against England in World Cup Group B
Starters of England against Wales in World Cup Group B
Black Friday sales rise modestly in Finland: statistics
Senegal beat Ecuador to reach World Cup last 16 (updated-2)
Killer of South African anti-apartheid leader Hani stabbed in prison
Senegal beat Ecuador to reach World Cup last 16 (updated-1)
Netherlands beat Qatar to finish top in World Cup Group A (updated-1)
Zimbabwe to produce electronic COVID-19 vaccination register

Others Also Read