Tuesday, 3 May 2016

US MARKET NEWS 04 May 2016


Shares of US automakers were mostly lower as stronger-than-expected sales for April were not enough to offset worries that the industry's recovery is running out of steam. Shares of Ford fell 1.4 percent to USD 13.43.
The Dow Jones industrial average closed down 140.25 points, or 0.78 percent, to 17,750.91, the S&P 500 lost 18.06 points, or 0.87 percent, to 2,063.37 and the Nasdaq Composite dropped 54.37 points, or 1.13 percent, to 4,763.22.
The biggest economic release on the agenda this week is monthly US payrolls, due on Friday. Last week, US data showed tepid growth in first-quarter gross domestic product and a softening in the Fed's preferred measure of inflation. 


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