STOCKS NEWS US-Markets extend losses after data
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For U.S. stock market report double-click [.N] 1024 ET 03June2009-Markets extend losses after data ------------------------------------------------------------------------------
Major U.S. indexes fell on Wednesday, extending their losses after weaker-than-expected factory orders and services data, which signaled that economic conditions remained tough.
For details, see [ID:nN036511]
The Dow Jones industrial average .DJI fell 1.3 percent to 8,630.24 while the S&P 500 .SPX lost 1.7 percent to 929.07 and the Nasdaq .IXIC was off 1.2 percent to 1,815.63.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1014 ET 03June2009-U.S. service sector shrank in May: ISM ------------------------------------------------------------------------------
The U.S. services sector shrank again in May, according to the Institute for Supply Management's nonmanufacturing index.
The index edged up to 44.0 in May from 43.7 in April. The analyst consensus estimate was for a reading of 45.
Any reading below 50 represents contraction in the sector.
For details, see [ID:nWEN9983]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1009 ET 103June2009-Factory orders up 0.7 percent in April ------------------------------------------------------------------------------
New orders received by U.S. factories rebounded in April, data from the Commerce Department showed on Wednesday, rising 0.7 percent in the month. Analysts were expecting a rise of 0.9 percent.
"Factory orders have been incredibly weak since August of last year. They've only only recently shown signs of stabilization, so in that respect, despite being weaker than expected, any positive reading is a desired outcome at this point," said Dan Greenhaus, an analyst at Miller Tabak & Co in New York.
For details, see [ID:nN02175619]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 0955 ET 03June2009-Steel sector falls after Steel Dynamics measures ------------------------------------------------------------------------------ Continued...
