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US equities post mixed weekly results
TIWN
US equities post mixed weekly results
PHOTO : TIWN

New York, Dec 9 (TIWN) US equities posted mixed results in the past week as investors digested the latest economic data while closely monitoring the latest development of trade issues between the United States and its major trading partners.

For the week, the Dow lost 0.1 percent, the S&P 500 declined 0.2 percent, and the Nasdaq erased 0.1 percent.  On data front, U.S. employers added 266,000 jobs in November, and the unemployment rate dropped slightly to 3.5 percent, the U.S. Bureau of Labor Statistics reported Friday.  Job gains mainly occurred in healthcare and in professional and technical services, the report showed. The number of people employed in manufacturing rose by 54,000 in November, after a decline in October when General Motors workers were on strike.  In addition, the University of Michigan's preliminary sentiment index for December increased to 99.2 from 96.8 in November. 

The number of Americans filing applications for unemployment benefits unexpectedly fell last week, according to data released by the U.S. Labor Department on Thursday.  In the week ending Nov. 30, the initial claims for state unemployment benefits dropped 10,000 to 203,000 on a seasonally adjusted basis, said the department. 

The four-week moving average was 217,750, a decrease of 2,000 from the previous week's unrevised average of 219,750, said the department.  Private payrolls, however, increased by only 67,000 in November, according to ADP and Moody's Analytics on Wednesday.  "The job market is losing its shine. Manufacturers, commodity producers, and retailers are shedding jobs," said Mark Zandi, chief economist of Moody's Analytics.  He added that if job growth slows any further, unemployment will increase.

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