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| The corner of Wall Street and Broadway, showing the limestone facade of One Wall Street in the background. (Photo credit: Wikipedia) |
Stock Advice. Wall Street ended its worst week this year with a sharp selloff on Friday after a slowdown in job creation in the world’s top economy raised the biggest question mark yet about the prospects for U.S. growth. Employers reduced hiring for the third straight month, adding 115,000 workers in April, well below forecasts of 170,000. Traders’ expectations had fallen during the week, but the softer jobs number missed even more pessimistic forecasts.
Energy shares were the worst performers, with the S&P energy index down 2.2 percent on fears a worsening economy would sap demand. U.S. crude oil fell 4 percent, dropping below $100 a barrel for the first time since February.The sharp retreat this week was a blow to investors who had been hoping the S&P 500 would break out to new recovery highs. The index is now moving away from strong resistance at the 1,400 level after failing to make a convincing move above it... Continue to read.
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