US market futures turn down after April jobs data

US stock market futures turn down after data shows hiring slowdown; world markets also lower

RELATED QUOTES

SymbolPriceChange
MDLZ31.500.04
LNKD182.350.99
DUK71.620.46
BRK-B113.021.48
BRK-A169,400.002,097.00

NEW YORK (AP) -- U.S. stock market futures turned lower Friday after the government reported that hiring slowed in April and the unemployment rate fell, but only because more people gave up looking for work.

Dow Jones industrial average futures fell 41 points to 13,102. Standard & Poor's 500 futures slipped 3.7 points to 1,382.20, while Nasdaq 100 futures gave up 7.75 points to 2,684.25.

The Labor Department reported that U.S. employers added 115,000 jobs in April. That was below March's revised 154,000 jobs, and well off the pace from earlier this year.

The unemployment rate fell to 8.1 percent, a three-year-low, but at the same time the percentage of adults working or looking for work hit the lowest level in more than 30 years. The government only counts people as unemployed if they are actively looking for work.

In Europe, Britain's FTSE 100 index was down 0.7 percent to 5,726.9. Germany's DAX slid 0.66 percent to 6,662. France's CAC-40 dropped 0.4 percent to 3,216.

Traders were responding not only to the U.S. jobs figures, but also to impending weekend elections in France and Greece. The results of the balloting are likely to have a significant impact on how Europe's debt crisis is handled over the next few months.

Earlier Asian markets were mixed, with the Nikkei in Tokyo gaining, while Hong Kong's Hang Seng and South Korea's Kospi both ended down. Mainland Chinese shares rose.

U.S. stocks to watch include Berkshire Hathaway Inc. Warren Buffett's investment vehicle reports quarterly results after the market closes. Duke Energy Corp. reported a 42 percent drop in first-quarter profit because of cost overruns at a coal plant under construction in Indiana. Adjusted results, however, beat Wall Street expectations.

LinkedIn Corp. said late Thursday that its first-quarter profit more than doubled, topping expectations, and announced a new acquisition. Shares jumped in premarket trading.

And Kraft Foods Inc. reported a modest increase in profit, boosted by the growing popularity of its cookies and chocolates in the developing world.

  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Trading Center

    Yahoo! Finance on Facebook

    POLL

    What would you like to see out of any potential tax reforms?

    Loading...
    Poll Choice Options