4 Malaysian Women With Stunning Youthful Skin. 1 Beauty Secret. Want To Find Out?>> >> Link

Saturday, September 5, 2009

DJIA- Stocks in pre-holiday rally

Wall Street advances after the August labor market report shows a slower pace of job cuts and a rising unemployment rate.

NEW YORK (CNNMoney.com) -- Stocks rallied Friday in a thinly traded session ahead of the Labor Day weekend, as investors focused on the positives in a mixed report on the labor market.

The Dow Jones industrial average (INDU) gained 96 points, or 1%. The S&P 500 (SPX) index added 13 points, or 1.3%. The Nasdaq composite (COMP) advanced 35 points, or 1.8%.

However, all three indexes ended the week lower.

Employers cut less jobs in August than they have in months, but the unemployment rate still rose to a fresh 26-year high.

"It's a good report that generally suggests more healing in the economy," said Jeff Kleintop, chief market strategist, LPL Financial. "But the market has been saturated with good news and is starting to show fatigue after the S&P 500 rallied 50%."

A roughly six-month rally propelled the S&P 500 more than 50% through last week, leaving the broad index at its highest point since just after the collapse of Lehman Brothers last September.

But stocks tumbled in the first three sessions of this week as investors worried about the health of the economy. There was a late-session advance Thursday as some of the bank and tech shares that slumped earlier in the week bounced back.

That carried over to Friday's session.

Trading volume was light ahead of the three-day Labor Day weekend. On the New York Stock Exchange, advancers beat decliners four to one on volume of 1.02 billion shares. On the Nasdaq, winners topped losers almost three to one on volume of 1.74 billion shares.

Economy: Employers cut 216,000 jobs from their payrolls in August, the Labor Department reported, after paring a revised 276,000 jobs in July. The month brought the smallest number of job cuts since August 2008. Economists surveyed by Briefing.com expected 230,000 job cuts

The unemployment rate, generated by a separate survey, rose to 9.7% from 9.4%, a 26-year high. Economists expected unemployment to rise to 9.5%.

Unemployment is expected to hit 10% by the end of the year or early 2010, even as the economy is starting to recover. Although a jobs recovery typically lags a broader recovery, the rise in unemployment remains the market's biggest economic worry right now.

Without a healthier labor market and a burst in consumer spending, inventory rebuilding and fiscal and monetary stimulus are the main factors fueling a recovery.

"In the last few weeks, we've gone from pricing in a recovery to worrying about a double-dip recession in 2010 when all the stimulus money gives out," said Kleintop.



If you like the post, please subscribe to Bursa Chat. We will send you the latest post by Email
===> Click
Subscribe to Bursa Chat by Email




BACK TO CHAT BOX

1 comment:

Sgbluechip said...

Hi, I am currently working part time for an advertising company to source for advertising space on popular blogs. I have recommended your site to my company.

We have taken a keen interest on it. Are you interested to let them place advertisements on your blog? We will pay you the fees upfront, into your paypal account in SGD or USD if you prefer. A sample of their advertisement (CFDs investing) has been placed on my blog (http://sgbluechip.blogspot.com/) and no clicks or minimum impressions are required.

Blogs with our ads:
http://sgmusicwhiz.blogspot.com/
http://www.investmentmoats.com/
http://fivecentstencents.com/blog/
http://ghchua.blogspot.com/
http://ntuchartist.blogspot.com/
http://market-uncle.blogspot.com/
http://level13-analysis.blogspot.com/
http://bullythebear.blogspot.com/

Do let me know if you are keen and we can discuss the rates over emails. No meeting or tele conversation is required. Please email me at sgbluechip@gmail.com

Please quote your blog address when you email me. I will reply asap!


--
Regards,

SBC

Profit / Loss Calculator

Enter the details and click on the compute button to find out if you are making a profit or a loss.
 Contract Details
  No of Shares Price (RM) Brokerage Rate Desired Profit
Buy
Sell    
 

Contract Type
Share Bought From:
Clearing Fee For:
 Results
 Details Buy  Sell  
 Proceeds 0.00  0.00  
 Brokerage Fee 0.00  0.00  
 Clearing Fee 0.00  0.00  
 Stamp Duty 0.00  0.00  
 Net Amount 0.00  0.00  
 Summary
 Breakeven Price 0.00  
 Buy Net Amount 0.00  
 Sell Net Amount 0.00  
 Profit/Loss 0.00  

Price Range Index
 
Stepping Method:
 Auto Computation (Profit/Loss)
Sell Price  Net Amount  Profit/Loss  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00  
0.00  0.00  0.00