Market Report: Early Black Friday Sales and Low Gas Prices

4 years 6 months 3 weeks ago Sunday, October 27 2013 Oct 27, 2013 Sunday, October 27, 2013 2:08:00 PM CDT October 27, 2013 in News
By: William Joy, KOMU 8 Reporter
loading

COLUMBIA - The stock market is just a reflection of expectations, and this week some major companies released earnings reports beating expectations and leading to some record highs.

Boosted by strong reports from Microsoft and Boeing, the Dow Jones Industrial Average finished up 1.11 percent this week to close at 15,570.28, just about one percent away from its record high. The NASDAQ closed up 0.74 percent for the week. Strong earnings from Amazon pushed the index to a 13-year high, with it closing at 3,943.36. Finally, the S&P 500 went up for the third straight week to close at 1,759.77, a 0.88 percent gain.

Speaking of expectations, the economy added just 148,000 new jobs in September, which is far fewer than the expected amount of 180,000. The consumer confidence index, which is a reading of how confident people are feeling about the economy dropped to 73.2, which is a 10-month low, the lowest reading of the year, down from 77.5 in September.

When people have a poor outlook on the economy, which usually means less purchasing, and less purchasing means lower prices, which is partially why gas prices are down. Missouri's prices are the lowest in the nation according to gasbuddy.com, with a state average of $2.95/gallon.

The reason the state is so low is because while there's not really any oil in the state, Missouri is surrounded by refineries in Oklahoma, Kansas, and Illinois so transportation costs are low and there's no sales tax on gas in Missouri.

And while there's nothing low-cost about going to college, the good news is that it's not getting much more expensive. Tuitions rose 2.9 percent this year, and that's the smallest yearly rise in 30-years. This past year, the UM System increased its tuition only 1.7 percent.

For the first time ever, Kohl's will be opening up their stores on Thanksgiving at 8 PM, and they'll keep them open all the way through Black Friday. The retailer joins JC Penny and Macy's who announced identical plans last week. The reasons behind the openings are lackluster sales last year and the fact the first day of Hanukkah is the same day as Thanksgiving this year.

The US Federal Reserve has one of their eight yearly meetings this week. On Wednesday, the Fed has its announcement scheduled, and Apple and Facebook release earnings on Monday and Wednesday. Finally, there will be more info on how quickly the US's economic situation is improvement when initial jobless claims are released on Thursday.

 

More News

Grid
List
COLUMBIA - On Thursday, the Columbia Airport Advisory Board announced the TSA approved a security screening lane to open by... More >>
6 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 11:41:00 PM CDT May 24, 2018 in News
COLUMBIA- May is known for Mother’s day, Memorial Day and in Missouri, the start of tick season. “May, June... More >>
9 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 8:21:00 PM CDT May 24, 2018 in News
COLUMBIA – The Columbia City Council discussed a recent engineering study today centering on increasing traffic flow east of Columbia.... More >>
11 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 7:11:00 PM CDT May 24, 2018 in News
HOLTS SUMMIT - After two months without a police department, New Bloomfield finally has one thanks to the city of... More >>
12 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 5:50:00 PM CDT May 24, 2018 in News
COLUMBIA - The University of Missouri has agreed to pay $50,000 to settle a lawsuit filed after Athletic Director Jim... More >>
13 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 4:54:00 PM CDT May 24, 2018 in Sports
MONROE CITY - Some people diagnosed with Parkinson’s Disease fight back, as did Michael Crager, the founder of Rock Steady... More >>
14 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 4:18:00 PM CDT May 24, 2018 in News
JEFFERSON CITY – The U.S. Department of Health and Senior Services made changes to a family planning program, which the... More >>
14 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 3:56:00 PM CDT May 24, 2018 in News
JEFFERSON CITY - In sometimes heated testimony, members of a Special House Investigative Committee looking into the Eric Greitens... More >>
14 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 3:54:00 PM CDT May 24, 2018 in News
JEFFERSON CITY - A report on a statewide rape kit audit shows that there are at least 4,889 untested sexual... More >>
14 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 3:23:00 PM CDT May 24, 2018 in News
JEFFERSON CITY - With the holiday weekend approaching, Mothers Against Drunk Driving (MADD) and Save Our Air Medical Resources (SOAR)... More >>
16 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 1:28:00 PM CDT May 24, 2018 in News
COLUMBIA – More than 36 million drivers will hit the road during Memorial Day Weekend, according to AAA. Just... More >>
17 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 12:20:00 PM CDT May 24, 2018 in News
JEFFERSON CITY - A statewide program bringing together prisoners and puppies is celebrating a major milestone. A four-month-old redbone... More >>
20 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 10:15:00 AM CDT May 24, 2018 in News
WASHINGTON (AP) — President Donald Trump says he thinks Kim Jong Un wants to do "what's right" but says it's... More >>
20 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 10:09:00 AM CDT May 24, 2018 in News
RANDOLPH COUNTY - A Huntsville man pleaded guilty to murder on Tuesday and received a life sentence with no chance... More >>
21 hours ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 8:37:00 AM CDT May 24, 2018 in News
BUNNIK, Netherlands (AP) — An international team of investigators said Thursday that detailed analysis of video images and photos... More >>
1 day ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 5:58:00 AM CDT May 24, 2018 in News
JEFFERSON CITY - Potentially more than one thousand Missourians could lose their hunting, fishing and trapping licenses after a Department... More >>
1 day ago Thursday, May 24 2018 May 24, 2018 Thursday, May 24, 2018 2:27:00 AM CDT May 24, 2018 in News
NEW YORK (AP) — A federal judge ruled Wednesday that President Donald Trump is violating the First Amendment when he... More >>
1 day ago Wednesday, May 23 2018 May 23, 2018 Wednesday, May 23, 2018 7:10:00 PM CDT May 23, 2018 in Continuous News
ST. LOUIS (AP) — A federal district court in St. Louis has ruled that the Missouri prison system must... More >>
1 day ago Wednesday, May 23 2018 May 23, 2018 Wednesday, May 23, 2018 5:48:22 PM CDT May 23, 2018 in News
Columbia, MO
Broken Clouds 69°
7am 70°
8am 72°
9am 75°
10am 78°