Stocks Slump on Jobs Data (AMZN, TGT)
Negative data on job creation as well as factory orders send major indices down today. In spite of the recent report that manufacturing had picked up, the Commerce Department announced that factory orders were actually down in March. Meanwhile, only 119,000 jobs were created in April, when economists had expected 177,000. Amazon's (AMZN) Kindle product line will no longer appear in Target (TGT) stores, since the two companies are increasingly going into competition with one another.
Word on the Street
- A slowdown in job growth brought major indices down today.
- The bad economic news has traders buying up more treasuries.
- Factory orders fell by 1.5 percent in March.
- A survey named California as the worst state for business.
- The Amazon (AMZN) Kindle products will no longer be sold by Target (TGT).
- Chrysler saw the biggest gains in US market share in April.
Published on May 2, 2012By InvestorGuide Staff