Markets in the US ended lower on Friday after government data indicated a higher than expected drop in July payrolls. US lost 131,000 jobs in July, much more then estimated. Thus. indicating that economic recovery in the US is slow although stocks have risen in the past 5 weeks on back of good results. Consumer stocks performed poorly as the monthly jobs data suggested that consumer spending was falling.
The Dow Jones industrial average fell 21.4 points, or 0.2%, to 10,653.5, the Standard & Poor's 500 Index declined 4.2 points, or 0.37%, to 1,121.6. The Nasdaq Composite Index lost 4.6 points, or 0.2 percent, to 2,288.4. Hewlett-Packard was the worst performing stocks down 9% to $42.14 after CEO Mark Hurd resigned on sexual harassment charges.
Most of Indian stocks trading on US bourses ended in the red, Infosys was down 0.55% to $61.8, Patni Computers also declined 1.13% to $21.06, Genpact was down 1.27% to $14.8. Wipro was an outperformer, ended up 1.46% to $13.88