Market Report: Stocks Close Up Despite Poor Jobs Report

6 years 1 month 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
COLUMBIA - Community members came together Saturday for a Walk and Roll-A-Thon in recognition of Disability Employment Awareness Month. ... More >>
32 minutes ago Saturday, October 19 2019 Oct 19, 2019 Saturday, October 19, 2019 5:11:00 PM CDT October 19, 2019 in News
COLUMBIA - Demonstrators rallied at Speakers Circle on Saturday for the first ever National Period Day. Organizers said they... More >>
1 hour ago Saturday, October 19 2019 Oct 19, 2019 Saturday, October 19, 2019 3:47:00 PM CDT October 19, 2019 in News
COLUMBIA - Community members got the chance to challenge Columbia police officers in their favorite video games during the department's... More >>
2 hours ago Saturday, October 19 2019 Oct 19, 2019 Saturday, October 19, 2019 3:41:00 PM CDT October 19, 2019 in News
ST. LOUIS (AP) — Grassroots organizations are working across Missouri to persuade gun-related business owners to join efforts to limit... More >>
2 hours ago Saturday, October 19 2019 Oct 19, 2019 Saturday, October 19, 2019 3:37:00 PM CDT October 19, 2019 in News
SALINE COUNTY — Three Saline County children abducted in 2017 were found in Arlington, Texas on Thursday, according to the... More >>
3 hours ago Saturday, October 19 2019 Oct 19, 2019 Saturday, October 19, 2019 2:15:00 PM CDT October 19, 2019 in News
JEFFERSON CITY - One Lincoln man is dead following a crash between a motorcycle and a tractor-trailer Friday night on... More >>
4 hours ago Saturday, October 19 2019 Oct 19, 2019 Saturday, October 19, 2019 1:19:00 PM CDT October 19, 2019 in News
COLUMBIA - The Columbia Water and Light department said it believes all power has been restored in Columbia. About... More >>
7 hours ago Saturday, October 19 2019 Oct 19, 2019 Saturday, October 19, 2019 10:05:00 AM CDT October 19, 2019 in News
MARSHALL - The suspect in a pair of shootings in early October has been caught out of state, police announced... More >>
20 hours ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 9:10:00 PM CDT October 18, 2019 in News
CALIFORNIA - A man heard his sentence on Friday after killing a 20-year-old three years ago for drunk driving. ... More >>
23 hours ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 6:31:00 PM CDT October 18, 2019 in News
COLUMBIA - Below are scores from football games around mid-Missouri. Final scores are in bold. ... More >>
23 hours ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 6:06:00 PM CDT October 18, 2019 in Friday Night Fever
COLUMBIA —The University of Missouri issued a statement Friday that the MU Department of Theatre was "in error" when it... More >>
23 hours ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 5:52:00 PM CDT October 18, 2019 in News
COLUMBIA - Friday Night Fever’s Week 8 Game of the Week features a dominant Helias (6-1) visited by a surging... More >>
23 hours ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 5:44:00 PM CDT October 18, 2019 in Friday Night Fever
COLUMBIA — The True False Film Festival and Ragtag Cinema are dissolving their relationship with Columbia church The Crossing. Cinema... More >>
1 day ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 5:33:00 PM CDT October 18, 2019 in News
COLUMBIA - Springfield Mayor Ken McClure hosted a group for a strategy session that included Governor Mike Parson in October.... More >>
1 day ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 4:18:00 PM CDT October 18, 2019 in News
KANSAS CITY - The extent of Kansas City Chiefs quarterback Patrick Mahomes' leg injury sustained during the team's Thursday night... More >>
1 day ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 3:07:00 PM CDT October 18, 2019 in Sports
JEFFERSON CITY - A damaged downtown Jefferson City building is scheduled for demolition, but the owners have filed an appeal... More >>
1 day ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 2:26:00 PM CDT October 18, 2019 in Continuous News
COLUMBIA - A drug company's decision is causing new worries for the families of children with cancer. Vincristine, a... More >>
1 day ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 1:55:00 PM CDT October 18, 2019 in News
JEFFERSON CITY - Jefferson City Police investigated a threat at Thomas Jefferson Middle School on Friday. TJMS sent out... More >>
1 day ago Friday, October 18 2019 Oct 18, 2019 Friday, October 18, 2019 1:27:00 PM CDT October 18, 2019 in News
Columbia, MO
Broken Clouds 56°
6pm 57°
7pm 57°
8pm 56°
9pm 55°