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​U.S. stocks close lower despite upbeat jobs data

NEW YORK
2017-08-09 08:40

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U.S. stocks ended lower on Tuesday despite positive jobs data from the country.

The Dow Jones Industrial Average lost 33.08 points, or 0.15 percent, to 22,085.34. The S&P 500 erased 5.99 points, or 0.24 percent, to 2,474.92. The Nasdaq Composite Index was down 13.31 points, or 0.21 percent, to 6,370.46.

The number of job openings was at 6.2 million on the last business day of the month, a record high, the report from the Labor Department said on Tuesday. This latest reading was higher than 5.7 million in May.

In corporate news, U.S. retailer Michael Kors said on Tuesday that the company's sales in the quarter ended July 1 fell 5.9 percent, but much less severe than the 8.9-percent drop that Wall Street was expecting. Total revenue for the first quarter came in at 952.4 million U.S. dollars, again topping analysts' estimates for sales of 918.6 million U.S. dollars.

Shares of Michael Kors soared 21.54 percent to close at 45.25 in late trading.
Meanwhile, traders were still digesting the latest comments from a Federal Reserve official.

St. Louis Federal Reserve President James Bullard said on Monday that the central bank won't need to raise rates in the near term. "The current level of the policy rate is likely to remain appropriate over the near term," he said.
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