Stocks higher at open after jobs data
by admin on Sep.24, 2009, under Banking Group, Banking Industry, Global Economic Crisis, World Economy
More good news about the jobs market is pulling investors back into the market.
A day after the Federal Reserve said economic activity has improved, the Labor Department says the number of newly laid off workers seeking unemployment benefits fell for a third week in a row. Initial claims for unemployment insurance fell by 21,000 last week to 530,000, better than the 550,000 economists had expected.
Later Thursday, investors will get data on existing home sales. Investors are also focusing on the Group of 20 meeting of the world’s leading economies in Pittsburgh.
In the first few minutes of trading, the Dow Jones industrial average is up 48 at 9,796. The Standard & Poor’s 500 index is up 4 at 1,065, and the Nasdaq composite index is up 8 at 2,140.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
Stock futures are indicating a slightly higher opening on Wall Street Thursday after investors got more good news about the jobs market.
A day after the Federal Reserve said economic activity has improved, the Labor Department said the number of newly laid off workers seeking unemployment benefits fell for a third week in a row. Initial claims for unemployment insurance fell by 21,000 last week to 530,000, better than the 550,000 economists had expected.
The number of people continuing to claim benefits for more than a week also fell, dropping 123,000 to 6.14 million.
Stock futures were little changed ahead of the report. Hard money training
