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US Stock Markets Face Correction In Anticipation of Jobs Data


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Reported by: Eric, CRWE Newswire Middle East Correspondent

 

The US stock markets dropped today in anticipation of a weaker jobs data report to be released later this week.

The Dow Jones Industrial Average DJIA declined 1.4 percent or 140.92 points to close at 10,009.73 for the day. Standard & Poor’s 500 index dropped 15.67 or 1.5 percent to 1,048.92 levels while NASDAQ Composite Index reported the correction of 33.66 points to 2,119.97.

Total consolidated volume stood at 2.9 billion shares for the day whereas losers to gainers stood in ratio of 4 to 2 on the New York Stock Exchange

Noah Education Holdings Ltd. (NYSE:NED) remained the top gainer at the NYSE as it surged 18.92 percent to close at $2.20 with total volume of 410,336 shares. Skilled Healthcare Group, Inc. (NYSE:SKH) was the top loser reporting a decline of 10.83 percent to close at $2.47 with total volume of 865,036 shares. Genzyme Corporation (NASDAQ:GENZ) remained bullish on its acquisition attempt by Sonafi Aventis. The company rejected the bid of $69 per share by Aventis referring it to be too low. The share price advanced 3.39 percent to close at $69.91 with total volume of 17.48 million shares. In other mergers and acquisition news 3M made a bid of $10.5 per share for the acquisition of Cogent, Inc. (NASDAQ:COGT). Cogent’s share price gained 24.4 percent to close at $11.09 with a volume of 19.46 million shares.

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