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Wall Street closes lower on weak US jobs report

Wall Street closes lower on weak US jobs report
Economy adds fewest number of jobs since September 2010

NEW YORK (AA) – Wall Street closed lower Friday after a disappointing jobs report fell far below projections.

The Dow Jones fell 31 points to end the day at 17,807. The S&P 500 lost 6 points to close at 2,099 and the Nasdaq was down 29 points to finish at 4,942.

For the week, the Dow was lost 0.4 percent, the S&P 500 was flat and the Nasdaq rose 0.2 percent.

The U.S. added just 38,000 jobs in May -- the fewest since September 2010. Forecasters expected the economy to add 160,000 new jobs.

Meanwhile, oil prices were down more than 0.6 percent at the close of markets.

At the final bell, the American benchmark West Texas Intermediate traded at $48.79 per barrel -- a 0.7 percent decline.

International benchmark Brent crude lost 0.6 percent at $49.75.


source: News Feed
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