You are here

US: Dow follows European shares lower at open

46-40638966 - 22_11_2016 - US-DOW-CLIMBS-OVER-19,000-FOR-FIRST-TIME-AS-STOCK-RALLY-CONTINUE.jpg

[NEW YORK] The Dow retreated from a record close to open lower Friday after US unemployment posted a nine-year low and anticipated weekend votes in Austria and Italy sent European shares lower.

The US jobless rate fell three-tenths to 4.6 per cent in November, with a solid 178,000 net new positions created, the Department of Labor reported.

Markets in London, Paris and Frankfurt fell as polls suggest Italy will vote against a referendum supported by Prime Minister Matteo Renzi, who could resign with a defeat.

Polls also suggest far-right Austrian presidential candidate Norbert Hofer has a good shot of winning Sunday's presidential race, an outcome that could further embolden anti-eurozone interests.

Five minutes into trading, the Dow Jones Industrial Average was down 0.2 per cent to 19,152.55.

The broad-based S&P 500 was essentially flat at 2,191.20, and the tech-rich Nasdaq Composite Index was also unchanged at 5,251.12.


Market voices on: