Only 142,000 Jobs Added in August; Unemployment Falls to 6.1%
The U.S. stock indexes recovered from yesterday's loss and then some, with the S&P 500 ending the day with yet another record close. The August jobs report was released today, and it missed the mark. Only 142,000 jobs were added last month, significantly missing expectations for 230,000. On the bright side, the unemployment rate fell from 6.2% to 6.1%. Alibaba's IPO debut is approaching, expected to begin trading on September 19 between $60 and $66 a share. The company will have approximately 320 million shares outstanding after the IPO, giving the company around a $20 billion valuation.
Word on the Street
- Only 142,000 jobs were added in August.
- Elon Musk believes Tesla's (TSLA) stock is overvalued.
- Is the market "broken"?
- Interest rates not expected to rise any time soon.
- Alibaba expected to have the biggest U.S. IPO ever.
- Kroger (KR) to hire 20,000 more employees.
- Tesla Motors (TSLA) to build gigafactory in Nevada.
Published on Sep 5, 2014By InvestorGuide Staff