Questions Arise from Important Unemployment Data as Rate Falls to 7.8% (ZNGA)

[Market prices as of 2:50 PM] On Friday, the biggest news came from the US Labor Department, reporting that the unemployment rate fell to 7.8%, the lowest since January 2009. Although the Dow Jones hit its highest level in almost five years, after the release of the unemployment rate more questions arose about future stimulus measures and both gold prices and the US dollar retreated. Zynga (ZNGA) shares dropped sharply on Friday after cutting its yearly outlook for a second time, also causing Facebook's (FB) stock to fall as well.
Investors look to the kickoff of quarterly earnings season next week and cautiously await reports from those such as Alcoa Inc. (AA) and JPMorgan Chase (JPM).

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Published on Oct 5, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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