BUSINESSDESK: Wall Street dropped on disappointment with Friday's non-farm payrolls report and investors are looking to the start of the first-quarter earnings season for fresh clues.
Financial markets were closed on Friday for the Easter holiday when a report showed that the US added 120,000 jobs in March, which was short of expectations for an increase of 203,000.
Just like last week, this week is a short one for Europe as financial markets were closed on Monday for the Easter holiday.
Wall Street, however, was open today.
In early afternoon trading, the Dow Jones Industrial Average fell 0.82%, while the Standard & Poor's 500 dropped 1.10% and the Nasdaq Composite Index declined 0.96%.
After a stellar first quarter, the second quarter has got off to a rough start.
The S&P 500 shed 0.7% in the four days of trading last week, while the Dow and the Nasdaq dropped 1.2% and 0.4%, respectively, in the same period.
By comparison, both the Dow and the S&P 500 posted their best first quarters since 1998 in the first three months of 2012, while the Nasdaq had its best since 1991.
Investors will look to earnings for indications on whether recent, and further, gains are justified.
Alcoa is set to release results after the market closes early tomorrow.
Other companies due to report this week include Google, JPMorgan Chase and Wells Fargo.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Genius move: Live-stream file-sharing chaos will play into Dotcom’s hands
- Blue Bubble whistleblower denied information by court
- Ireland supports Apple, challenges EU order to recoup €13b in 'illegal' tax benefits
- Meridian eyes building new generation, expects Tiwai stays
- Editor’s Insight: Migrant scaremongering will damage economy in long run
Most listened to
- In Editor's Insight, Nevil Gibson looks at Phil Goff, who at a forum in Takapuna spoke of the need to reduce population
- Meridian CEO Mark Binns on the Tiwai smelter and generation options
- No chief of staff leaves one year before an election, says Matthew Hooton
- 'Grumpy as hell' Bill Bennett says he'll use a VPN to connect to Chelsea's club channel
- NZForex's Alex Hill says the market will be paying more attention to data, than comments from officials