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Stocks fall after weak jobs report; oil drops
Source: Agencies |
June 24, 2011, Friday
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Online Edition
Online Edition
US stocks are closing lower after a jump in claims for unemployment benefits contributed to concerns about the economy.
Indexes had been down sharply but made up most of their losses following a report that Greece may be close to a new austerity deal.
Energy stocks led the market yesterday lower after oil prices fell nearly 5 percent. More than 60 million barrels were released from oil reserves around the world to keep prices low.
The Dow Jones industrial average fell 60 points, or 0.5 percent, to 12,050. The S&P 500 lost 4, or 0.3 percent, to 1,284. The Nasdaq composite gained 18, or 0.7 percent, to 2,687.
Three stocks fell for every two that rose on the New York Stock Exchange. Volume was slightly above average at 4.4 billion.
Indexes had been down sharply but made up most of their losses following a report that Greece may be close to a new austerity deal.
Energy stocks led the market yesterday lower after oil prices fell nearly 5 percent. More than 60 million barrels were released from oil reserves around the world to keep prices low.
The Dow Jones industrial average fell 60 points, or 0.5 percent, to 12,050. The S&P 500 lost 4, or 0.3 percent, to 1,284. The Nasdaq composite gained 18, or 0.7 percent, to 2,687.
Three stocks fell for every two that rose on the New York Stock Exchange. Volume was slightly above average at 4.4 billion.
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