Stocks on Wall Street end mixed on slow job growth - RTHK
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Stocks on Wall Street end mixed on slow job growth

2017-12-07 HKT 06:05
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  • US companies added 190,000 jobs in November, down from 235,000 in October. Photo: AP
    US companies added 190,000 jobs in November, down from 235,000 in October. Photo: AP
Technology shares rallied while petroleum-linked equities tumbled on Wednesday as US stocks finished little changed following data showing slower job growth in November.

The Dow Jones ended down 0.2 percent to 24,140.

The S&P 500 lost less than 0.1 percent at 2,629, while the Nasdaq rose 0.2 percent to 6,776.

US companies increased employment by 190,000 in November, cooling from the blistering 235,000 pace in the prior month, according to private payrolls firm ADP.

The report is watched for signals ahead of Friday's more closely-scrutinised government jobs report.

US stocks have been sluggish this week as investors await the results of negotiations between House and Senate Republicans on a final tax bill.

Art Hogan, chief market strategist at Wunderlich Securities, said "consternation" over President Donald Trump's decision to recognise Jerusalem as Israel's capital also weighed on the market.

"What is impressive is considering the headwinds the market faces today, we finished the day without much movements," Wunderlich said.

Large technology shares, which have been volatile in recent sessions amid some profit-taking, pushed higher. Amazon gained 0.9 percent, Facebook tacked on 1.9 percent and Google parent Alphabet added 1.3 percent.

Oil-linked shares tumbled on lower oil prices, with Apache shedding 3.8 percent, ConocoPhillips losing 1.7 percent and Transocean down 5.2 percent.

UnitedHealth Group lost 0.1 percent after announcing that it was acquiring DaVita Medical Group, which operates outpatient dialysis centers and physicians networks, for US$4.9 billion, in the latest big health care deal. (AFP)