Traders came back from the long holiday weekend, in a selling mood. Stocks opened lower on Friday’s jobs report showing hiring in America was the weakest in more than a year. The Labor Department’s report showed 126,000 jobs were created in March, far below expectations. The unemployment rate was unchanged at 5.5%. The U.S. dollar slipped further on the disappointing jobs report. The greenback dropped to its biggest decline in nearly two week immediately after Friday’s data. Shares of Herbalife (HLF) were lower in early trading after CNBC reported the company’s top members were contacted by federal law enforcement agencies. Activist hedge fund manager Bill Ackman has long accused Herbalife of being a pyramid scheme. Herbalife said it is cooperating with authorities and hopes Ackman’s campaign against it will be found to be illegal.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
