US equities dropped after jobless claims numbers

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Source: Dukascopy Bank SA
© Scanpix/Reuters
US shares halted their rally on Thursday on disappointing US jobs data. US jobless claims rose to three-month high last week, indicating that the national labour market is still facing downside risks. Moreover, rising cautiousness during the two-day EU summit created additional pressure on the US equities. However, positive news from the US manufacturing sector restricted the downside. The S&P 500 Index lost 0.24% to close at 1,457.34. Six out of ten sectors within the index posted mild gains. The top-performers were telecommunications and utilities. CenturyLink, Crown Castle International and Frontier Communications climbed 0.05%, 0.54% and 0.83%, respectively. Among utility companies, Ameren and American Electric Power gained 0.30% and 0.56%. Meanwhile, Ebay soared 5.46% after reporting upbeat profits for Q3. Stryker added 1.50% despite lower rating of its shares. Oppenheimer & Co a downgraded the company's shares from 'outperform' to 'hold'. On the downside were technology firms, dropping 1.80%. Google slumped 8.01% after releasing weak quarterly results ahead of the schedule.
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Fri, 19 Oct 2012 10:44:33 GMT

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