Another Weak Jobs Report; Consumers Borrowed $19B in December
Stocks rose today high enough to erase the Dow's big 326-point loss it suffered on Monday. The jobs report was released today revealing less than expected numbers. Economists predicted that nearly 189,000 jobs would be added in January, but in reality only 113,000 jobs were added. Should the Fed rethink its tapering strategy after two straight months of weak jobs reports? Many economists are blaming the severe weather that much of the country experienced for the lower than expected numbers. The unemployment rate did drop from 6.7% to 6.6% as expected. U.S. consumers borrowed nearly $19 billion in December which is the largest amount borrowed in around 10 months.
Word on the Street
- USPS lost almost $354 million in fourth quarter.
- J.C. Penney (JCP) nears bankruptcy.
- GoPro announced plans for an IPO.
- Possibly entry point found for Target's (TGT) breach.
- Does crowdfunding impact legacy charities?
- Apple (AAPL) has repurchased $14 billion of its own stock.
- LinkedIn (LNKD) stock plunges on 2014 guidance.
Published on Feb 7, 2014By InvestorGuide Staff