Many on Wall Street were hoping to see a rebound in stock trends once August
closed and September trading opened. The first couple of trading days in
September only heightened the pessimism that many investors on Wall Street are
feeling. The primary stock indices fell on Friday and closed red across the
board. The Dow Jones Industrial Average was lower by 253.31 points to finished
the week at 11,240.26. The Nasdsaq was lower by 65.71 points to close out at
2,480.33 and the S&P 500 finished off red by 30.45 at 1,173.97. The week ended
with negatively skewed economic reports. The national unemployment rate stayed
exceptionally high at 9.1 percent and the jobs report for August was much weaker
than most expected. Investors worries exacerbated and stock indices dropped.
Individual companies felt the negative pressure as well. Retailers are
struggling. Macys Inc finished in the red last session by 4.27 percent at 25.36
according to MSN Money stock quotes. JC Penney finished red by 4.23 percent at
25.15 according to MSN Money Stock Quotes. Companies are trying to do what they
can to push business at a time when Americans are pinching pennies. Labor Day
Sales for Macys and JC Penneys were initiated in hopes of sparking business.
Macys is pushing on-line sales by offering an additional 10 to 15 percent off
merchandise when promo codes are utilized. JC Penney is offering back to dorm
sales and 55 percent off of sport coats. Retailers are looking for the Labor Day
Sales to help boost share value. Frank Matto
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