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US shares lower on jobs report | |
(about 3 hours later) | |
(Close): A strong report on the US labour market led to fears amongst investors that a long awaited interest rate raise could come soon, pushing shares to close lower on Friday. | |
Data for December showed the more than 200,000 jobs for the 11th consecutive month. | |
That led investors to fear that the Federal Reserve may begin to raise rates soon. | |
The Dow Jones fell 60.34 points to finish at 17,824.29. | |
The broader S&P 500 dipped 7.05 points to close at 2,055.47 and the tech-focused Nasdaq lost 20.70 points to end at 4,744.40. | |
The strength of the labour market has prompted some analysts to revise their views on when the Fed might start to raise interest rates. | |
"Another employment report like this one for February and the stock market will most likely have to start getting its mind around a rate hike actually happening in mid-2015 after all," said Briefing.com analyst Patrick O'Hare. | |
Tech companies soar | |
Twitter shares soared 16% after its results late on Thursday. | |
It reported a net loss of $125m (£82m) in the fourth-quarter, beating analyst expectations. | It reported a net loss of $125m (£82m) in the fourth-quarter, beating analyst expectations. |
It also said revenue grew faster than expected, increasing by 95% to $479m during the October to December period. | It also said revenue grew faster than expected, increasing by 95% to $479m during the October to December period. |
Total monthly active users were 288 million, an increase of 20% from the year earlier. | Total monthly active users were 288 million, an increase of 20% from the year earlier. |
LinkedIn shares jumped 10.7% after the networking website reported its 15th consecutive quarter of earnings that beat expectations. | |
Revenue rose by 44% to $632m in the October to December period, significantly higher than had been expected. | Revenue rose by 44% to $632m in the October to December period, significantly higher than had been expected. |