The Labor Department reported yesterday that the national unemployment average
for our nation dropped just a bit lower. The average ticked down from 9.0 to 8.9
percent in January which represents the best average documented since April of
2009. In addition to this, government data revealed that non-farm payrolls rose
192,000 and private sector employment gained almost 225,000 jobs. In addition,
the Commerce Department posted that factory orders rose 3.1 percent which was
another record gain. Even with the positive economic posts, the major index
composites in the United States finished the day in the red. Stocks ended the
last trading session for the week relatively flat as fears over political unrest
and surging oil prices continued to grip investors. Crude oil prices rose above
$116 a barrel and supplied negative pressure on stock index trending. Potential
record gains were all but extinguished as the trading session wore on yesterday.
The Dow Jones Industrial Average ended the session lower by .72 percent at
12,169.88. The S&P 500 ended the session in the red by .74 percent at 1,321.15.
The Nasdaq ended the session lower as well by .50 percent at 2,784.67. The
dollar gained strength versus the euro and the Japanese yen. The Dow Jones
Industrial Average ended the week higher by .3 percent for the week. Author:
Frank Matto
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