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Journalism of Courage
The highly anticipated report came minutes after the Federal Reserve announced it would take fresh steps to ease credit troubles, including boosting the amount of money it will auction to banks. Dow Jones industrial average futures fell 129, or 1.07 percent, to 11,941. Standard & Poor’s 500 index futures fell 11.90, or 0.91 percent, to 1,296.00. Nasdaq 100 index futures fell 8.25, or 0.48 percent, to 1,706.00. Bond prices jumped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.52 percent from 3.59 percent late Thursday. The dollar hit a fresh record low against the euro following release of the payroll numbers, while gold prices rose. Light, sweet crude fell 22 cents to $105.25 per barrel in premarket electronic trading on New York Mercantile Exchange after the jobs report. A slowing economy could dampen demand for oil. The employment figures weren’t welcome news a day after concerns about home foreclosures and credit woes rippled through Wall Street.
