(Reuters) - U.S. stocks fell on Thursday as signs of strength in the U.S. job market diminished chances for an interest-rate cut, offsetting takeover news and plans for a $3 billion share repurchase by Sun Microsystems Inc.
The Labor Department said weekly first-time claims for unemployment insurance were lower than expected. Investors had been eager for signs of economic weakness, pointing to a possible cut in rates by the Federal Reserve. A rate cut could lead to more business investment and improved corporate profits.
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