The US labour market showed signs of a steady slowdown in October, with job openings increasing moderately and layoffs declining, according to the latest Job Openings and Labor Turnover Survey (JOLTS) report released by the Bureau of Labor Statistics on Tuesday. Job openings, a key indicator of labour demand, rose by 372,000 to 7.744 million at the end of October. However, the September figures were revised downward to 7.372 million from the initially reported 7.443 million. Economists polled by Reuters had anticipated 7.475 million vacancies. Labour Market Dynamics While job openings increased, hires dropped by 269,000 to 5.313 million, and layoffs fell by 169,000 to 1.633 million. These figures suggest a gradual cooling of the labour market rather than a sharp contraction. Hurricanes and strikes also impacted October’s labour market data. Rebuilding efforts in storm-affected regions and the resolution of strikes at Boeing and another aerospace company are expected to contribute to a ...
The volatility of the market continues as Wall Street closed lower on Thursday, snapping the 3-day rally this week as Wal-Mart fell and dragged on the market after a slowdown seen in their latest quarter earnings while oil prices pulled back as well.
Wal-Mart Stores Inc (WMT.N) fell 3 percent after the world's largest retailer reported a lower quarterly profit and gave a tepid sales outlook. The stock was the biggest percentage loser in the Dow index.
After the market closed, department store operator Nordstrom Inc (JWN.N) reported lower-than-expected quarterly profit and its shares sank 7 percent.
The oil prices slide lower as well after rallying in recent days. The oil prices pulled back as the benchmark Brent settled lower after data showed a build in U.S. crude inventories.
The Dow Jones industrial average fell 40.4 points, or 0.25 percent, to 16,413.43, the S&P 500 lost 8.99 points, or 0.47 percent, to 1,917.83 and the Nasdaq Composite dropped 46.53 points, or 1.03 percent, to 4,487.54.
The declines of the market was limited as IBM rose 5% on the back of an upgrade by Morgan Stanley to "overweight" stock.
The equity market's volatility means it's dangerous to go in now and with a lot of negative news surfacing, US can take comfort in the economic data that shows the number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to labor market strength.
According to Reuters, 8.1 billion shares changed hands on U.S. exchanges. This is below the 9.5 billion daily average for the past 20 trading days.
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| US market falls as Wal-Mart weighs while oil price also pulls back |
Wal-Mart Stores Inc (WMT.N) fell 3 percent after the world's largest retailer reported a lower quarterly profit and gave a tepid sales outlook. The stock was the biggest percentage loser in the Dow index.
After the market closed, department store operator Nordstrom Inc (JWN.N) reported lower-than-expected quarterly profit and its shares sank 7 percent.
The oil prices slide lower as well after rallying in recent days. The oil prices pulled back as the benchmark Brent settled lower after data showed a build in U.S. crude inventories.
The Dow Jones industrial average fell 40.4 points, or 0.25 percent, to 16,413.43, the S&P 500 lost 8.99 points, or 0.47 percent, to 1,917.83 and the Nasdaq Composite dropped 46.53 points, or 1.03 percent, to 4,487.54.
The declines of the market was limited as IBM rose 5% on the back of an upgrade by Morgan Stanley to "overweight" stock.
The equity market's volatility means it's dangerous to go in now and with a lot of negative news surfacing, US can take comfort in the economic data that shows the number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to labor market strength.
According to Reuters, 8.1 billion shares changed hands on U.S. exchanges. This is below the 9.5 billion daily average for the past 20 trading days.
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