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US: Stocks dip at open ahead of jobs report

Thursday, May 7, 2015 - 21:47

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[NEW YORK] Wall Street stocks dipped in opening trade on Thursday as the market looked ahead to the April US jobs report.

Five minutes into trade, the Dow Jones Industrial Average was at 17,806.75, down 35.23 points (0.20 per cent) at 17,806.75.

The broad-based S&P 500 lost 3.31 (0.16 per cent) at 2,076.84, while the tech-rich Nasdaq Composite Index shed 2.60 (0.05 per cent) at 4,917.04.

Investors are looking ahead to Friday's jobs report. Analysts expect the US economy added 218,000 jobs in April, rebounding from a lacklustre 126,000 in March.

Briefing.com analyst Patrick O'Hare said the market will look especially closely for signs of stronger wage growth, which could bolster the chances the US Federal Reserve will raise benchmark interest rates more quickly.

AFP

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