Economy and Stock Market Close for the week
Friday, February 2nd
The economy added 111,000 new jobs in January, less than an expected gain of 150,000. The softness was related to severe winter weather in some parts of the country. Weaker than expected job growth last month was offset by upward revisions in the prior two months which resulted in a net increase of 81,000 jobs. Additionally, benchmark revisions to the data series show average monthly payroll gains of 212k in 2005 and 187k in 2006 compared to 165k and 153k respectively.
Stock Market Close for the Week
Index Latest A Week Ago Change
DJIA 12653.49 12487.02 +166.47 or +1.33%
NASDAQ 2475.88 2435.49 +40.39 or +1.65%
The point being if the economy is doing better and job growth with payroll gains continue interest rates will also continue to inch up.
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