U.S. stocks ended lower on Friday and closed out their worst week in two months as disappointing jobs data was the latest in a series of economic reports showing a tepid recovery.
U.S. President Barack Obama announced on Friday nearly $800 million in loans and grants for the build-out of broadband networks to reach homes, schools and hospitals.
U.S. jobless numbers likely fell in June for the first time this year, a Reuters poll showed. The key monthly unemployment report will be released on Friday.
The U.S. dollar slipped against the euro on Friday, extending the previous day's steep losses on concerns over the U.S. economic recovery after disappointing U.S. jobs data.
U.S. private payrolls rose less than expected in June and overall employment fell for the first time this year as thousands of temporary Census jobs ended, indicating the economic recovery is failing to gain traction.
U.S. President Barack Obama is slated to announce on Friday nearly $800 million in loans and grants for the build-out of broadband networks to reach homes, schools and hospitals.
Wall Street looked set to open higher and European shares kept their gains on Friday despite a key U.S. jobs report that came in slightly worse than expected.
The U.S. dollar fell against the euro on Friday, extending the previous day's steep losses on concerns over the U.S. economic recovery after worse-than-expected U.S. jobs data.
The report showed a larger-than-expected drop in U.S. June nonfarm payrolls to 125,000, due to layoffs of temporary government workers, even as the unemployment rate unexpectedly fell to 9.5 percent.
The dollar jumped against the yen but immediately surrendered those gains on Friday after a report showed a larger-than-expected drop in U.S. June nonfarm payrolls to 125,000, while the unemployment rate unexpectedly fell to 9.5 percent.
The dollar dipped against a basket of major currencies on Friday, extending the previous day's steep losses on concerns over the U.S. economic recovery and before the all-important June non-farm payrolls data. By 1047 GMT, the dollar index .DXY, a gauge of its performance against six other major currencies, slipped 0.2 percent to 84.539, near a two-month low after it shed 1.6 percent on Thursday.
Employment likely contracted for the first time this year in June as thousands of temporary jobs for census workers ended, though private-sector hiring probably picked up, according to a Reuters survey.
World shares eked out gains for only the second time in nine sessions on Friday but the rise was likely to be contingent on key U.S. jobs data due later.
The dollar steadied on Friday after steep losses the previous day on growing concerns about the U.S. economy, with key U.S. non-farm payrolls data looming.
The greenback hit its lowest this year against the yen below 87 yen on Thursday as market players covered short cross yen positions.
Gold bounced from a 5-week low on Friday as weaker prices ignited buying by bargain hunters and jewelers, but investors were cautious ahead of the release of a U.S. employment report.
Investors shrugged off a small drop in ETF holdings, turning their attention to the June non-farm payrolls data which will set the tone for currencies and equities. Gold tumbled nearly 4 percent on Thursday as funds sold bullion to cover losses in other markets.
The dollar was on the back foot against the euro and slipped against the Aussie on Friday after a big euro short squeeze ahead of U.S. jobs data, while the yen lost ground all round as the squeeze spilled into Asian trade.
U.S. jobless numbers likely fell in June for the first time this year, a Reuters poll showed. The key monthly unemployment report will be released on Friday.
Gold slipped lower in Europe on Wednesday, caught up in selling of stocks and other commodities after a report showed U.S. private sector employers added fewer jobs than expected in June.
The precious metal is still set to be the best-performing metal of the second quarter, however, as fears over the global growth outlook and the stability of the banking system fuel haven demand for the metal.
U.S. private employers added a paltry 13,000 jobs in June, compared to a revised gain of 57,000 in May, a report by a payrolls processor showed on Wednesday.
Consumer confidence fell steeply in June after rising for three months, due to worries about the labor market because of a recent slowdown in jobs growth, according to a private sector report released on Tuesday.
Stock investors will anxiously await the crucial June jobs data this week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.
Stock investors will anxiously await the crucial June jobs data next week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.
Eric Heinbockel recalls going on a Wall Street interview the day investment bank Bear Stearns collapsed. With his chances of landing a coveted finance job dwindling, the former Columbia University undergraduate began exploring more entrepreneurial options, eventually launching a business that lets customers build their own chocolate bars.
Hershey Co plans to cut 500 to 600 jobs, or up to 5 percent of its workforce, as part of a restructuring aimed at upgrading and enlarging its facilities to compete globally and save some $60 million to $80 milllion in annual costs.