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英语文摘:Wall Street mixed after unexpected decrease in jobs

Source:  Onion  2010-10-07   English BBS   Favorite  

NEW YORK, Oct. 6 (Xinhua) -- Wall Street turned mixed on Wednesday as investors were digesting a disappointing report on jobs market.

ADP, a private payroll company, reported that U.S. companies cut 39,000 jobs in September, the biggest drop since January, after a revised 10,000 gain in August.

The result exerted downward pressure on the market as investors were awaiting the crucial monthly non-farm payrolls report due out on Friday.

According to a survey among economists, the government report will show the unemployment rate increased to 9.7 percent from 9.6 percent, while overall payrolls were likely unchanged in September.

As earnings season is to kick off on Thursday, investors became more cautious. Analysts estimated that U.S. profits probably grew at the slowest pace this year in the third quarter as declining consumer confidence curbed spending and hurt results at companies from McDonald's Corp. to Verizon Communications Inc..

The Dow Jones industrial average added 22.93, or 0.21 percent, to 10,967.65. The Standard & Poor's 500 index was down 0.78 points, or 0.07 percent, to 1,159.97 and the Nasdaq dropped 19.17 points, or 0.80 percent, to 2,380.66.

The International Monetary Fund (IMF) said in a report on Wednesday that high unemployment, public debt and fragile banking systems pose risks to global prosperity, urging policy makers to take bolder steps to assure a sustained recovery.


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