October 29, 2009 |
NEW YORK -- Stocks dipped in morning trading today as investors grow more cautious about the strength of an economic recovery. The market is extending its losses after weakening Tuesday following a disappointing reading on consumer confidence. A new report showing durable goods orders rose in line with expectations in September had little effect on trading. Stocks also fell overseas. Roy Williams, CEO of Prestige Wealth Management Group, said it is normal to have a bit of a pullback after such a strong run, as investors take some profit and rebalance portfolios.
October 10, 2009 |
NEW YORK -- Stocks are little changed in early trading Friday after the government issued a mixed trade report. The Commerce Department says the trade deficit declined 3.5 percent to $30.7 billion in August. Economists had expected the deficit to rise. Exports of goods and services edged up, an encouraging sign that the global economy is strengthening. But a decline in imports shows that domestic consumption is still weak. Meanwhile, the dollar is recovering some of its recent losses and weighing on oil, gold and other commodities.
October 2, 2009 |
NEW YORK -- Stocks retreated in early trading today after two government reports suggested the economy is still poised for a slow recovery. The Labor Department said new claims for jobless benefits rose more than expected to 551,000, evidence that the labor market is struggling and that jobs remain scarce. Economists polled by Thomson Reuters had predicted claims to rise to 535,000. The increase comes after three weeks of declines, and just before the Labor Department's September unemployment report.
September 5, 2009 |
NEW YORK -- A slightly better report on the labor market for August is sending stocks higher. Stocks inched up in early trading Friday after the Labor Department said employers cut a total of 216,000 jobs last month, less than the 276,000 jobs lost in July and better than the 225,000 figure analysts had been expecting. It was the lowest level of job losses in a year. The unemployment rate, however, jumped to 9.7 percent -- the highest rate since June 1983. Analysts had been expecting the rate to edge up to 9.5 percent after unexpectedly dipping to 9.4 percent in July.