technology shares: Wall Street ended lower, led by plunging technology shares after poor results from data company Tableau Software and networking platform Linked In, according to Euro News. The S&P 500 information technology sector fell 3.4 percent, while the Nasdaq Composite Index slumped to its lowest close since October 2014. Oil prices dipped, ending the week lower after two weeks of gains. While U.S. nonfarm payrolls increased by just 151,000 jobs last month, well below forecasts of 190,000, the unemployment rate fell to 4.9 percent, the lowest since February 2008, and a sharp rise in wages suggested the labor market recovery remained on track. Fed funds futures contracts showed traders boosted their view of the chances of a Fed rate hike in December to about 40 percent. Despite the weak headline figure, markets took the rest of the payrolls report hawkishly.
(news.financializer.com). As
reported in the news.
Tagged under technology shares, poor results topics.