Despite a positive report on the domestic labor market today, all three major indexes are in the red, pulled down by disappointing manufacturing data in Europe and China. An initial reading of the HSBC purchasing managers' index, the earliest indicator of China's manufacturing activity, fell to a four-month low in March.
In Europe, manufacturing and services output contracted more than expected in March, falling to a three-month low. The news helped overshadow an upbeat U.S. labor report that showed the number of Americans applying for unemployment benefits hit a four-year low last week. The Dow Jones Industrial Average
The losers so far
Through midmorning, Caterpillar
The big picture
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