Unemployment claims scare investors
by Associated Press
Published: February 4,2010
NEW YORK — Stocks are down sharply as concerns about unemployment are overshadowing a jump in factory orders.
The Labor Department’s report today of an unexpected increase in first-time claims for unemployment is reminding investors that the economic recovery will be difficult. So they’re looking past the Commerce Department’s news that factory orders rose more than expected in December.
Orders increased by 1 percent, double the 0.5 percent gain forecast by economists surveyed by Thomson Reuters.
The Dow Jones industrial average is down 172 at 10,098. The Standard & Poor’s 500 index is down 21 at 1,075, while the Nasdaq composite index is down 41 at 2,149.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- JACKSON JILTED —Southwest Airlines pulling up stakes and leaving Mississippi
- Keeping our eye on... Liz Lancaster
- GOP Sen. Thad Cochran to run for seventh term
- Eye clinic operator faces Medicaid fraud charges
- NEW ORLEANS SAINTS MOVING — Mississippi company has the task of moving the football team
- MAN OF STEEL: Madhu Ranade leading Severstal Columbus
- Mega-load move could cause traffic issues
- C Spire launches next phase of 1-gig service rollout
- Hood issues opinion on open-carry gun law
- M&F branches to close as Renasant wraps up merger