Full in Bloom Full in Bloom Music Interviews Features Music Fibits Directory NEW to Fibits Day Trending Day Trender Submit News
Members Login
Post Info TOPIC: Stocks Soar on Friday's Early Trading
TW


Learning to Fly

Status: Offline
Posts: 49
Date: Aug 7 10:30:33 2009
Stocks Soar on Friday's Early Trading


As many analysts were expecting, today's release of job data showed that the less jobs were shed in July than Wall Street had anticipated.  The news sent stocks soaring on early Friday trading.

The Numbers
Unemployment fell to 9.4% from 9.5% the previous month, while Wall Street was predicting an increase to 9.6%.

Nonfarm lost less than 250,000 jobs compared to the 325,000 that was predicted.

A chief investment strategist was quoted as saying, "While job losses remain generally high and were widespread across industry, clearly the pace of job destruction is substantially less than what we were seeing in the early part of the year......So obviously it's constructive and the equity markets are responding accordingly."


__________________

Colorado Springs Homes
Colorado Springs Condos

Page 1 of 1  sorted by
Quick Reply

Please log in to post quick replies.

Post to Digg Post to Del.icio.us


La Jolla Complexes - La Jolla Homes
Colorado Springs Homes for Sale