Reuters: US Dollar Report: GLOBAL MARKETS-Shares, oil slide on U.S. payrolls

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

GLOBAL MARKETS-Shares, oil slide on U.S. payrolls May 4th 2012, 14:06 Fri May 4, 2012 10:06am EDT * Weak U.S. payrolls, PMI reports in Europe, spell gloom * Global shares slide, bonds gain on recovery fears * Brent falls to 3-month lows under $115 after jobs data * Dollar slips vs yen in trade volatile, euro firms By Herbert Lash NEW YORK, May 4 (Reuters) - Global stocks and crude oil fell on Friday after a bleak U.S. payrolls report for April and economic data from Europe that pointed to a deeper recession across the euro zone than previously thought heightened concerns about slowing economic growth. U.S. employers cut back on hiring in April and the jobless rate fell as Americans gave up the hunt for work. Employers added just 115,000 workers to their payrolls last month, the Labor Department said. The second straight monthly decline in hiring growth kept fears alive that the U.S. economy is losing momentum and doused hopes that a stretch of strong winter hiring had signaled a turning point for the U.S. recovery. "The U.S. economy is not growing fast enough to improve the job market. When all is said and done that is the most important statistic," said Joseph Trevisani, chief market strategist at Worldwide Markets, Woodcliff Lake, New Jersey. Trevisani spoke from Jeddah, Saudi Arabia. The Dow Jones industrial average was down 93.47 points, or 0.71 percent, at 13,113.12. The Standard & Poor's 500 Index was down 11.32 points, or 0.81 percent, at 1,380.25. The Nasdaq Composite Index was down 34.41 points, or 1.14 percent, at 2,989.89. The data added to the gloomy tone from Europe, where purchasing managers indexes, primarily covering services, suggested a recession across the euro zone could now extend to mid-year and be deeper than previously thought. Despite a strong showing in corporate earnings from Royal Bank of Scotland, BNP Paribas and Lafarge , the FTSEurofirst fell 1.1 percent to 1,032.71. MSCI's all-country world equity index fell 0.6 percent to 324.41. Oil fell to three-month lows of less than $115 a barrel, on course for its steepest weekly fall since December, after the weak U.S. jobs report. Brent crude oil futures lost $1.99 to $114.09 a barrel, lows not seen since early February. U.S. crude fell by $2.36 to $100.17 a barrel. The dollar slipped against the yen in volatile trading after the payrolls number. The dollar fell 0.3 percent to 79.93 yen. The euro rose about 0.1 percent to $1.3164. The benchmark 10-year U.S. Treasury note was up 10/32 in price to yield 1.90 percent. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions