U.S. stocks drop on disappointing jobs data

    NEW YORK, Jan. 7 (Xinhua) -- U.S. stocks dropped on Friday after the closely-watched monthly jobs data turned out to be disappointing.
    The Labor¹ Department（劳工部） said early on Friday that the U.S. economy added 103,000 jobs in December, an improvement from November but far below market expectations.
    Meanwhile, the nation's unemployment rate unexpectedly declined to 9.4 percent last month, the lowest level in 19 months, but many analysts² believed that the drop was partly because people gave up looking for work and wasn't likely to be sustained.
    Underscoring the weakness in jobs market, Federal Reserve（联邦储备系统） Chairman Ben Bernanke confirmed Friday that it will take years for unemployment to drop to more normal levels when he was delivering his first testimony³ to the new Congress.
    However, Bernanke did paint a brighter picture for the economy, saying there was more evidence that a "self-sustaining recovery" in consumer and business spending may be taking hold. Adding to the pressure, the U.S. dollar rose against the euro to a four- month high as investors⁵ refocused on the debt problems in some euro zone countries.
    Portugal, widely considered to be one of the euro zone's most fragile economies, is scheduled to sell up to 1.25 billion euro in debt next week, which is seen as a crucial test of investor⁴ confidence. Analysts fear that the market could shun⁶ the country's bonds, which would trigger a new round of debt woes⁷.
    Financials also dragged the market down after the highest court in Massachusetts found that U.S. Bancorp and Wells Fargo failed to prove that they owned the mortgages in two cases where homeowners were in foreclosure, raising worries that this ruling could set a precedent⁸ for other cases against lenders.
    Despite Friday's losses, Wall Street still managed a gain in the first week of 2011. The Dow climbed 0.8 percent for the week, while the broader S&P gaining 1.1 percent.
    Investors now are setting their eyes to next week when Alcoa reports its fourth-quarter results after the market closes on Monday, officially kicking off a new earnings⁹ season.
    As of Friday's close, the Dow Jones industrial average dropped 22.55 points, or 0.19 percent, to 11,674.76. The Standard & Poor' s 500 index declined 2.35 points, or 0.18 percent, to 1,271.50 and the Nasdaq was down 6.72 points, or 0.25 percent, to 2,703.17.(本文由在线英语听力室整理编辑)

1 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

2 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

3 testimony   

n.证词；见证，证明

参考例句：

• The testimony given by him is dubious.他所作的证据是可疑的。
• He was called in to bear testimony to what the police officer said.他被传入为警官所说的话作证。

4 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

5 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

6 shun   

vt.避开，回避，避免

参考例句：

• Materialists face truth,whereas idealists shun it.唯物主义者面向真理，唯心主义者则逃避真理。
• This extremist organization has shunned conventional politics.这个极端主义组织有意避开了传统政治。

7 woes   

困境( woe的名词复数 )； 悲伤； 我好苦哇； 某人就要倒霉

参考例句：

• Thanks for listening to my woes. 谢谢您听我诉说不幸的遭遇。
• She has cried the blues about its financial woes. 对于经济的困难她叫苦不迭。

8 precedent   

n.先例，前例；惯例；adj.在前的，在先的

参考例句：

• Is there a precedent for what you want me to do?你要我做的事有前例可援吗？
• This is a wonderful achievement without precedent in Chinese history.这是中国历史上亘古未有的奇绩。

9 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。