Market Report: Stocks Close Up Despite Poor Jobs Report

4 years 9 months 1 week ago Sunday, September 08 2013 Sep 8, 2013 Sunday, September 08, 2013 3:32:00 PM CDT September 08, 2013 in News
By: William Joy, KOMU 8 Reporter
loading

COLUMBIA- It was a volatile week of trading in the market.

The Dow Jones Industrial Average managed to end a four-week losing streak as it finished up 112 points to close at 14,992, up .76 percent. Meanwhile, the NASDAQ closed up 70 points to 3,660.01, a 1.95 percent gain for the week, and the S&P 500 closed up 22 points to 1655.17 on this Labor Day-shortened week to end up 1.36 percent.

The big national news pushing the market on Friday was the new jobs report.

169,000 jobs were added to the economy last month, but that was fewer than forecast, and the numbers for June and July were revised downward. The unemployment rate moved down from 7.4 percent to 7.3, but that's because people are simply giving up on finding a job.

The percent of working age people in the labor force, also called the participation rate, decreased to 63.2 percent, the lowest since August 1978.

It wasn't all doom and gloom this week, though. Eight times a year, each Federal Reserve Bank publishes a summary of the current economic conditions in its district, and there were two big notes out of the Eighth District, which includes Columbia. According to the report, 75 percent of car dealers surveyed in the Eighth District saw increases in sales compared to last year.

Home sales are up as well.

July 2013 year-to-date home sales were up nine percent in St. Louis compared to last year, while numbers from the Columbia Board of Realtors showed July single-family home sales are up 43 percent compared to 2012.

These mixed numbers have only added more confusion to when the Federal Reserve will begin tapering off its monthly buying of bonds.

The continuing conflict in Syria drove oil prices up two percent this week to $110.53/barrel, which could mean higher gas prices. Syria is going to be the main thing to watch this week with a Wednesday vote from the Senate. Other notable events are the initial jobless claims on Thursday as employment continues to be the focal point for the economy. Then Friday, Consumer Sentiment, which is a general guide of what consumers think about the economy and what retail sales are like in the US.

 

More News

Grid
List
JEFFERSON CITY (AP) — The Trump administration policy to force separation of migrant children and parents at the U.S.-Mexico... More >>
1 hour ago Tuesday, June 19 2018 Jun 19, 2018 Tuesday, June 19, 2018 7:58:00 AM CDT June 19, 2018 in News
COLUMBIA - Monday began Summer Safety Week and local programs are helping those in danger of not being able to... More >>
3 hours ago Tuesday, June 19 2018 Jun 19, 2018 Tuesday, June 19, 2018 5:54:00 AM CDT June 19, 2018 in News
JEFFERSON CITY (AP) — A Democratic political action committee is targeting Republican Missouri Senate candidate Josh Hawley for not... More >>
5 hours ago Tuesday, June 19 2018 Jun 19, 2018 Tuesday, June 19, 2018 4:22:00 AM CDT June 19, 2018 in News
COLE COUNTY - Former Gov. Eric Greitens' attorneys will meet with lawyers Tuesday to discuss his use of the Confide... More >>
6 hours ago Tuesday, June 19 2018 Jun 19, 2018 Tuesday, June 19, 2018 3:00:00 AM CDT June 19, 2018 in News
WASHINGTON (AP) — President Donald Trump announced Monday he is directing the Pentagon to create a new "Space Force" as... More >>
14 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 7:08:00 PM CDT June 18, 2018 in News
JEFFERSON CITY - Missouri democrats want Governor Mike Parson fire his chief operating officer and cancel a contract awarded to... More >>
15 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 6:49:00 PM CDT June 18, 2018 in News
COLUMBIA - Mid-Missouri air conditioning companies are facing the busiest time of year amid a four-day heat advisory. Craig... More >>
16 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 5:16:00 PM CDT June 18, 2018 in News
COLUMBIA – The attorney representing the security guard who shot Anthony Warren at a Waffle House on New Year's Day... More >>
18 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 3:12:00 PM CDT June 18, 2018 in News
JEFFERSON CITY - The 600 block of Monroe Street will be closed until Friday. Construction crews are removing a retaining... More >>
19 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 2:20:00 PM CDT June 18, 2018 in News
BOONE COUNTY - A death, a huge cache of weapons and a suspect whose gun jammed as he was aiming... More >>
19 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 2:17:00 PM CDT June 18, 2018 in News
JEFFERSON CITY (AP) — Gov. Mike Parson appointed state Senate Majority Floor Leader Mike Kehoe to be the new lieutenant... More >>
20 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 1:15:00 PM CDT June 18, 2018 in News
BOONVILLE - Jesse Viertel Memorial Airport may reach new heights after the city council accepted a bid and authorized a... More >>
21 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 12:42:00 PM CDT June 18, 2018 in News
COLUMBIA - City public works crews will be repairing a road buckle on Providence Road between Blue Ridge Road and... More >>
22 hours ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 11:39:00 AM CDT June 18, 2018 in News
BALLWIN (AP) — Another bear sighting has people concerned in part of Missouri, but this time, it's deep into... More >>
1 day ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 9:45:39 AM CDT June 18, 2018 in News
BOONE COUNTY – The Katy Trail will see more bike traffic than usual this week with the 2018 Katy Trail... More >>
1 day ago Monday, June 18 2018 Jun 18, 2018 Monday, June 18, 2018 7:33:00 AM CDT June 18, 2018 in News
COLUMBIA - Columbia is under a heat advisory until Monday evening. The National Weather Service issued the advisory on... More >>
1 day ago Sunday, June 17 2018 Jun 17, 2018 Sunday, June 17, 2018 9:29:00 PM CDT June 17, 2018 in News
FULTON - Forty people with disabilities will learn how to ride a two-wheel bicycle at the iCan Bike camp this... More >>
1 day ago Sunday, June 17 2018 Jun 17, 2018 Sunday, June 17, 2018 9:18:00 PM CDT June 17, 2018 in News
COLUMBIA - Missouri is the first and only state to define "meat" as exclusively animal product. The Missouri General... More >>
1 day ago Sunday, June 17 2018 Jun 17, 2018 Sunday, June 17, 2018 4:55:00 PM CDT June 17, 2018 in News
Columbia, MO
Broken Clouds 83°
10am 85°
11am 87°
12pm 89°
1pm 89°