Dow declines on jobs report

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Source: Dukascopy Bank SA
U.S. shares retreated on Friday after jobs report was released showing the U.S. labor market added less-than-forecast jobs in March. However, experts claim the disappointing data does not show a trend. The Dow Jones Industrial Average dropped 0.3%, or 40.86 points, to 14,565.25. Seven out of ten groups on Dow decreased, with tech shares and consumer goods losing the most. American Express Co erased 2.1% to close at $65.30, pacing losses in financial shares that slipped 0.4%. Among the poorest performers was Cisco Systems Inc. that plummeted 2% and lagged the broader market on speculation F5 Networks, its networking peer, announced lower-than-expected preliminary figures. Technology group declined the most, led by Hewlett-Packard Co that eased 1.5%, as its chairman Ray Lake is stepping down. Alongside to that, Boeing Co climbed 1.4% for the biggest gain in the index, as the company completed certification testing of the new battery system for its 787 model. The aircraft producer lifted industrial group that was 0.12% higher.


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