The markets took a hit today as trading was dragged down by a disappointing jobless claims report. The Dow Jones and Nasdaq dropped 5.45 points and 10.51 points respectively. The S&P followed a similar fate with a 1.43 point loss. Investors seemed apprehensive to make any major moves, and were unable to shake the morning’s glum economic news. Overall, it was a relatively slow session, which was only compounded further by the summer season. The government’s pending payroll report tomorrow has also been adding to traders’ worries, and has a majority of Wall Street watching from the sidelines. In the retail sector, Macy’s , Limited Brands , and Abercrombie & Fitch reported an increase in same store sales while J.C. Penney , Aeropostale and Hot Topic posted losses. Investors turned to Treasurys as a haven from the markets’ recent uncertainly. This broad movement pushed the yield on the 10-year note down to 2.90%. The dollar was trading weaker against both the euro and the yen.
Word on the Street
Other Juicy Tidbits
VN:F [1.9.17_1161]
Rating: 0.0/5 (0 votes cast)
Other relevant articles you may like
Wall Street Holds Its Breath for Tomorrow
By: InvestorGuide Staff, dated August 5th, 2010The markets took a hit today as trading was dragged down by a disappointing jobless claims report. The Dow Jones and Nasdaq dropped 5.45 points and 10.51 points respectively. The S&P followed a similar fate with a 1.43 point loss. Investors seemed apprehensive to make any major moves, and were unable to shake the morning’s glum economic news. Overall, it was a relatively slow session, which was only compounded further by the summer season. The government’s pending payroll report tomorrow has also been adding to traders’ worries, and has a majority of Wall Street watching from the sidelines. In the retail sector, Macy’s , Limited Brands , and Abercrombie & Fitch reported an increase in same store sales while J.C. Penney , Aeropostale and Hot Topic posted losses. Investors turned to Treasurys as a haven from the markets’ recent uncertainly. This broad movement pushed the yield on the 10-year note down to 2.90%. The dollar was trading weaker against both the euro and the yen.
Word on the Street
Research in Motion is in the hot seat over government access to its BlackBerry phones .
Oracle may be paying upwards of $1 billion in damages for allegedly over charging the U.S. government.
The unemployment rate surprised analysts last week with an unexpected jump in jobless claims .
Ford Motors is hoping to ride the import/export business all the way to the bank .
A $1.2 billion renovation plan for JFK is on the agenda for Delta Airlines .
There is an increasing amount of speculation that Goldman Sachs may spin off part of its proprietary trading. Find out more.
The new Supreme Court nominee was voted into office today . Who is it?
Some of the richest people in the world have pledged to donate a large portion of their fortunes to charity. Click to find out more.
The website, WikiLeaks, is under the gun from the U.S. government after releasing several unpublished war documents.
Russia bans all grain exports due to a country-wide drought.
RedBeacon raised an impressive amount during its latest round of financing. What is RedBeacon and how much did it receive?
The U.S. Postal Service posted a $3.5 billion dollar loss last quarter. Find out more .
Other Juicy Tidbits
What if your smartphone could serve as your credit card too? Well, it may be happening soon .
What the ten worst places to live? It’s funny that you ask.
Check out this list of the most expensive homes on the market .
Musician Wycleff Jean declares his intentions to run for the presidency of Haiti .
Other relevant articles you may like
Copyrighted by InvestorGuide.com. All rights reserved.