Stock Market Economic News Today: The DJIA , as well as the Nasdaq and the S&P
500 , tracked positively during the opening month of 2012. Investors were hoping
to observe the positive trends for the Dow Jones and other indices continue into
February, but the first couple days of February trading culminated in mixed
outcomes. The eurozone debt crisis continued to weigh index trends down, and
home based mixed economic reports kept investors uncertain. The positive
momentum of Januarys stock trends appeared to be dissipating. But then the much
awaited jobs data posted last session and provided news that would lift indices
and investors confidence. Government data revealed that the national
unemployment rate dropped to 8.3 percent which was far better than most analysts
were anticipating. The rate drop marked one of the lowest since 2009. The news
sparked a broad based rally throughout the U.S. marketplace. The Dow Jones
Industrial Average touched its highest mark since 2008. The primary indices in
the U.S. surged into the green across the board. According the data posting via
the Labor Department, the U.S. economy added 243,000 jobs in January. This mark
was almost double what many economists were predicting and approximately 850,000
better than the previous month. In addition to this positively skewed data, the
Institute for Supply Management reported that its non-manufacturing index rose
higher to 56.8 which equaled one of its best readings on the year. Most
economists perceive any ISM index mark over 50 as a positive reading. Fridays
data was a very positive way to end a week that needed data to tip the scales.
This news definitely skewed the scale positive. Todays Dow Jones Industrial
Average, Nasdaq, S&P 500 Index Marks: When the closing bell finally rang, the
Dow was posting at a four year high and the Nasdaq finished at an eleven year
high. The Dow Jones Industrial Average closed out the day higher by 1.23 percent
at 12,862.23. The Nasdaq finished the day higher by 1.61 percent at 2,905.66.
The S&P 500 finished the day higher by 1.46 percent at 1,344.90. The much
stronger than expected jobs report helped lift indices to relative highs. Frank
Matto
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