MORNING BUSINESS MINUTE, FRI. FEB. 3, 2006
By:
Updated: April 17, 2007
The Labor Department announced a jump in labor costs, and a decline in productivity during the past quarter.
Investors saw that as a sign of rising inflationary pressures.
As a result, we saw the Dow lost -101.97 (-0.93%) to close at 10,851.98. The NASDAQ lost -28.99 (-1.25%) to close at 2,281.57 and the S&P 500 lost -11.62 (-0.91%) to finish at 1,270.84.
Local stocks posted negative results. Tyson Foods (TSN) lost -0.48% to close at $14.41. JB Hunt (JBHT) lost -0.30% to finish at $23.27. Acxiom (ACXM) lost -0.08% to finish at $24.02 and Wal-Mart (WMT) added +0.30% to finish at $46.28.
We have a ton of economic figures today -- we`ll see earnings and payroll information for January, along with the unemployment rate. Also out, December factory orders and the ISM services figures for January.
Earnings today come from Maytag and Weyerhauser.
Overseas in Asia last night, the Nikkei lost -0.5% to reach 16,621.92 at the mid-day break in Tokyo.
Back in the U.S. In extended hours trading, the NASDAQ 100 Afterhours Indicator fell more -1.8 (-0.11%)to close the night at 1,683.97.
