Reuters - Video

EDITION: U.S. | U.K. | IN

Business

The S&P 500 suffers worst week in 2 years

Friday, August 01, 2014 - 02:41

Friday's jobs report showed employment growth slowing, but still robust; U.S. auto sales slow; Procter & Gamble and Expedia fly high; GoPro hits the skids. Lily Jamali reports.

▲ Hide Transcript

View Transcript

Markets ended the day lower across U.S. indexes - and sectors - Friday - but avoided the kind of steep selloff we saw Thursday. The S&P 500 saw its steepest weekly drop in two years. The Dow and the Nasdaq also finished lower. On this jobs report Friday - job growth in July showing a slowdown but the recovery appears robust. The economy added 209,000 jobs - marking six months of strong gains. But the unemployment rate ticked slightly higher as well - giving way to chatter that the Fed may keep interest rates low for longer. Geoff Hoffmann is CEO of executive hiring firm DHR International. He says the jobs market recovery still feels fragile. SOUNDBITE: GEOFF HOFFMANN, CEO, DHR INTERNATIONAL (ENGLISH) SAYING: "It doesn't feel like we're on a definitive growth path. Maybe that's some overhang from weak first quarter which I think was driven largely by the bad weather the country experienced. But we'll see. I mean the second quarter was a great snapback. Hopefully that continues into the third quarter. That's certainly what we're anticipating and what we've seen so far." The improving job market keeping consumer sentiment steady in late July. And the economic data kept on coming Friday. U.S. auto sales growth slowing down slightly in July - despite heavy discounting by automakers. The U.S. manufacturing sector expanded last month at the fastest pace in more than three years thanks to new orders. World oil prices fell to a two-week low on oversupply and slowing demand. Major markets in Europe - from the UK to Germany to France - also finishing lower Friday. John Canally of LPL Financial says European woes had a sour impact on world markets. SOUNDBITE: JOHN CANALLY, SENIOR RESEARCH ANALYST, LPL FINANCIAL (ENGLISH) SAYING: "Their Consumer Price inflation year-over-year in the month of July was up just 4/10ths or 5/10ths. That's pretty close to deflation. The ECB meets next week. I think the ECB can help give the market a big boost if it hints more strongly that they're going to take some more action to help combat the deflation in the Eurozone." In company news: Friday's gainers include: Procter and Gamble. The world's largest household products maker reporting a sizable jump in quarterly profit. P&G also said it will sell off more than half its brands. Travel booking site Expedia shares - flying high - on better-than-expected quarterly results. And Tesla saw its share price speed higher after the electric carmaker announced plans to build more than 60,000 cars next year. Not such a good Friday for wearable camera maker GoPro which reported a large quarterly loss as costs almost doubled.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

The S&P 500 suffers worst week in 2 years

Friday, August 01, 2014 - 02:41

Top News »

Most Popular »

Retirement »

Investing 201 »

Bond investors brace for the end of Fed stimulus Bond investors brace for the end of Fed...

Fri, Oct 10, 2014 - (4:03)

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Why bruised Brazil is a buy Why bruised Brazil is a buy

Fri, Jul 19, 2013 - (2:48)

3 ways to fix your bond portfolio 3 ways to fix your bond portfolio

Thu, Jul 11, 2013 - (3:10)

The next gold? Diamonds lure investors The next gold? Diamonds lure investors

Wed, Jul 03, 2013 - (2:38)

How to play the Fed’s tapering timeline How to play the Fed’s tapering timeline

Thu, Jun 20, 2013 - (2:34)

How to play banker on the web How to play banker on the web

Tue, Jun 11, 2013 - (2:57)

3 surprises about the 2013 stock rally 3 surprises about the 2013 stock rally

Fri, May 24, 2013 - (2:11)

How to cash in on lawsuits - Investing 201 How to cash in on lawsuits - Investing 201

Tue, Apr 30, 2013 - (2:30)

Rising dollar will drive stocks higher Rising dollar will drive stocks higher

Wed, Apr 10, 2013 - (2:32)

A little-known path to big dividends - Investing 201 A little-known path to big dividends -...

Thu, Apr 04, 2013 - (3:16)

What exactly does Warren Buffett own? - Investing 201 What exactly does Warren Buffett own? -...

Thu, Feb 14, 2013 - (0:51)

Big short bets: Where are they now? - Investing 201 Big short bets: Where are they now? -...

Fri, Dec 21, 2012 - (2:33)

Money Clip »

How to get out of debt How to get out of debt

Thu, Oct 30, 2014 - (3:37)

Will Apple Pay transform mobile payments? Will Apple Pay transform mobile payments?

Thu, Oct 16, 2014 - (2:45)

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

How to break your prenup - Money Clip How to break your prenup - Money Clip

Thu, Mar 07, 2013 - (1:18)

Watch your wallet on Pinterest - Money Clip Watch your wallet on Pinterest - Money Clip

Thu, Feb 21, 2013 - (1:33)

Get set for the big bull run - Money Clip Get set for the big bull run - Money Clip

Thu, Jan 24, 2013 - (3:41)

Moving Pictures »

Images of November Images of November

Tue, Dec 02, 2014 - (0:30)

Images of October Images of October

Mon, Nov 03, 2014 - (0:57)

The world in a city The world in a city

Fri, Oct 31, 2014 - (1:30)

Real-life superheroes Real-life superheroes

Tue, Oct 28, 2014 - (1:44)

Dance of the northern lights Dance of the northern lights

Mon, Oct 20, 2014 - (1:08)

Images of September Images of September

Wed, Oct 01, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, Jul 03, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)

The week that changed Boston The week that changed Boston

Mon, Apr 14, 2014 - (3:28)

360° snapshot of life in Kabul 360° snapshot of life in Kabul

Fri, Apr 04, 2014 - (1:26)

A blind teenager, living with vision A blind teenager, living with vision

Thu, Mar 27, 2014 - (3:51)

TIMELAPSE: Backstage at the Oscars TIMELAPSE: Backstage at the Oscars

Wed, Mar 05, 2014 - (2:49)

TIMELAPSE: Lunch with Oscar nominees TIMELAPSE: Lunch with Oscar nominees

Wed, Feb 12, 2014 - (2:55)

Sochi Highlights: Let the games begin Sochi Highlights: Let the games begin

Fri, Feb 07, 2014 - (0:40)

TIMELAPSE: On the Golden Globes red carpet TIMELAPSE: On the Golden Globes red carpet

Tue, Jan 14, 2014 - (3:28)

Pictures of the Year 2013 Pictures of the Year 2013

Fri, Dec 20, 2013 - (3:03)

Marching to the beat of Sousa's drum Marching to the beat of Sousa's drum

Thu, Dec 05, 2013 - (6:11)

The Gettysburg Address The Gettysburg Address

Thu, Nov 28, 2013 - (2:31)

Reuters Investigates »

Where the sea is closing in Where the sea is closing in

Thu, Nov 20, 2014 - (3:41)

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:22)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:02)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:40)

Lessons of the Jihad Jane case - Reuters Investigates Lessons of the Jihad Jane case - Reuters...

Sun, Dec 09, 2012 - (3:43)

Exclusive: Jihad Jane in her own words Exclusive: Jihad Jane in her own words

Sat, Dec 08, 2012 - (4:11)

Attorney: How a Maryland teenager became radicalized - Reuters Investigates Attorney: How a Maryland teenager became...

Fri, Dec 07, 2012 - (4:21)

Dateline Asia »

No Christmas easing from the Bank of Japan No Christmas easing from the Bank of Japan

Fri, Dec 19, 2014 - (1:59)

North Korea to blame for Sony hack: source North Korea to blame for Sony hack: source

Thu, Dec 18, 2014 - (1:10)

China's house prices fall again China's house prices fall again

Thu, Dec 18, 2014 - (1:10)

China's child labor problem China's child labor problem

Thu, Dec 18, 2014 - (2:19)

Measuring up North Korea's heir Measuring up North Korea's heir

Wed, Dec 17, 2014 - (1:03)

Russia worries rock emerging markets Russia worries rock emerging markets

Wed, Dec 17, 2014 - (1:14)

Seoul raises the "nut rage" stakes Seoul raises the "nut rage" stakes

Tue, Dec 16, 2014 - (1:03)

Sydney in shock after hostage horror Sydney in shock after hostage horror

Tue, Dec 16, 2014 - (1:07)

Not all merry and bright in China's manufacturing sector Not all merry and bright in China's...

Tue, Dec 16, 2014 - (1:29)

Beneath the surface of Abe's big win Beneath the surface of Abe's big win

Mon, Dec 15, 2014 - (1:15)

Some hostages escape from Sydney cafe Some hostages escape from Sydney cafe

Mon, Dec 15, 2014 - (1:06)

Abe eyes big win in Japan election Abe eyes big win in Japan election

Sun, Dec 14, 2014 - (1:00)

Afghan Bruce Lee sets sights on global fame Afghan Bruce Lee sets sights on global fame

Fri, Dec 12, 2014 - (1:40)

Asian markets rattled by oil price drop Asian markets rattled by oil price drop

Thu, Dec 11, 2014 - (1:14)

Final stand for Hong Kong's protesters Final stand for Hong Kong's protesters

Thu, Dec 11, 2014 - (1:21)

Asia markets stumble as oil tumbles Asia markets stumble as oil tumbles

Thu, Dec 11, 2014 - (1:15)

All eyes on upcoming Dalian Wanda IPO All eyes on upcoming Dalian Wanda IPO

Thu, Dec 11, 2014 - (2:52)

Final hours for Hong Kong protesters Final hours for Hong Kong protesters

Wed, Dec 10, 2014 - (1:57)

Anger at Japan's new state secrets law Anger at Japan's new state secrets law

Wed, Dec 10, 2014 - (1:33)

Charm offensive for KFC in China Charm offensive for KFC in China

Wed, Dec 10, 2014 - (2:13)

Pro-ISIS pockets at Kabul University Pro-ISIS pockets at Kabul University

Wed, Dec 10, 2014 - (1:46)

Volatility the new norm in China Volatility the new norm in China

Wed, Dec 10, 2014 - (1:44)

Investor feedback trimmed Dalian Wanda IPO Investor feedback trimmed Dalian Wanda IPO

Tue, Dec 09, 2014 - (4:26)