Wall Street falls in choppy trading
09:52, 14 May 2010
NEW YORK. May 14. KAZINFORM Wall Street ended lower after a choppy session on Thursday, with all three major indexes falling more than 1 percent, as investigation against more banks and slow improvement in labor market weighed on equities; Kazinform refers to Xinhua.
Markets have been struggling to find their footing by focusing on interior signs of recovery following news of the European Union financial rescue package, as investors question whether the plan will be enough to keep sovereign debt issues at bay.
However, there is little to be thrilled for the slow improvement in job market. According to the Labor Department, the number of people applying for unemployment benefits held steady at 444,000 in the latest week. Claims actually fell by 4,000 for the week ended May 8, but data were revised up by 4,000 for the prior week, showing it still needs time for employers to feel comfortable speeding up hiring; Kazinform cites Xinhua.
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