US STOCKS-Wall St opens lower after weak April jobs report

viernes 6 de mayo de 2016 09:44 GYT
 

* April nonfarm payrolls up by 160,000 vs 202,000 expected

* Job additions smallest in 7 months

* Square slumps after results miss expectations

* Indexes down: Dow 0.32 pct, S&P 0.31 pct, Nasdaq 0.28 pct (Updates to open)

By Tanya Agrawal

May 6 (Reuters) - Wall Street opened lower on Friday after April payrolls data showed the U.S. economy added the fewest jobs in seven months, raising concerns that the weakness in overall economic activity was spilling over to the labor market.

Nonfarm payrolls increased by 160,000 jobs last month, far below the 202,000 economists polled by Reuters had forecast on average. The number was lower than the first-quarter average monthly job growth of 200,000.

The data cast doubts on whether the Federal Reserve will raise interest rates before the end of the year.

Concerns over mixed economic data and the slowing pace of global growth have clouded the path of interest rate hikes in the United States. The U.S. economy grew just 0.5 percent last quarter on an annualized basis and inflation has been below the Fed's 2 percent target for years.   Continuación...