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Wall Street lower on downbeat employment data

06 October 2017 14:56

US markets gave back some of the gains recorded throughout the week as traders reacted to the first monthly non-farm payroll employment decline in seven years, while also contending with a significant drop in oil prices.

Shortly after the open, the Dow was down by 0.11% at 22,751, the S&P 500 was 0.18% lower at 2,547.44 and the Nasdaq had drifted 0.07% south at 6,580.72.

European markets were mixed during the final session of the week. The FTSE 100 was up 0.15%, the DAX was down 0.06% and the CAC 40 was 0.25% lower.


At around 2.45pm (GMT) WTI crude oil was 2.54% lower at $49.50 per barrel and Brent crude was down 1.79% at $55.98 per barrel.

Gold was off by 0.45% at $1,267.5 an ounce, silver was down 0.29% and copper by 0.46%.


Total non-farm payroll employment in the US was down by 33k in September after adding an average of 172,000 jobs per month over the prior 12 months, the Bureau of Labor Statistics reported today.

The unemployment rate decreased by 0.2 percentage point to 4.2% in the month, while average hourly earnings rose by 12 cents to $26.55.

In addition, the 'final' monthly data regarding wholesale inventories is due later this afternoon.

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