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.
The majority of the money that was borrowed was for auto, student, and credit card loans. Google (GOOG) surpassed Exxon Mobil (XOM) today to become the 2nd largest company in the United States. Google now has market capitalization of nearly $395 billion in compared to the market value of Exxon which is about $392 billion.

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Published on Feb 7, 2014
By InvestorGuide Staff

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