US equities post mixed weekly results

New York: US equities posted mixed results in the past week as investors digested the latest economic data while closely monitoring the latest development of trade issues between the United States and its major trading partners.

For the week, the Dow lost 0.1 percent, the S&P 500 declined by 0.2 percent, and the Nasdaq erased 0.1 percent, Xinhua news agency reported on Saturday.

On the data front, US employers added 266,000 jobs in November, and the unemployment rate dropped slightly to 3.5 percent, the US Bureau of Labour Statistics reported Friday.

Job gains mainly occurred in healthcare and in professional and technical services, the report showed. The number of people employed in manufacturing rose by 54,000 in November, after a decline in October when General Motors workers were on strike.

In addition, the University of Michigan’s preliminary sentiment index for December increased to 99.2 from 96.8 in November.

The number of Americans filing applications for unemployment benefits unexpectedly fell last week, according to data released by the US Labour Department on Thursday.

In the week ending Nov. 30, the initial claims for state unemployment benefits dropped 10,000 to 203,000 on a seasonally adjusted basis, said the department. (IANS)

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