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Metals Lead For the Week
Dec 02, 4:47 PM EST |
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| Only tech averages closed higher for the day. Gold, copper, silver and Platinum closed higher for the day and for the week. |
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| For the week broader averages closed unchanged, after five weeks of gains. Metal markets closed higher for the week, led by copper, silver, platinum and gold. crude oil closed at three-week high. Semiconductor stocks index closed at 40-month high. General Electric sold $1.3 billion of Genworth in secondary offering. |
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Semis Lead Averages
Dec 02, 3:01 PM EST |
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| Market took better-than-expected job growth data in strides. Broader averages are selling-off in the afternoon. Gold stays above $500 and crude gains. |
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| After five straight weeks of gains in averages, market seems to have plenty of vigor. Even though broader market averages are declining, stocks in semiconductors, techs, financial brokers, and home builders are on the rise. Philadelphia index on semiconductor stocks reached a 40-month high. |
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Greenspan Raises Budget Deficit Issue
Dec 02, 11:18 AM EST |
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| Ford is reported to close plants and layoff more than 7,500 employees. Crude oil at three-week high. Gold touches $507 in the morning trading. |
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| The Department of Labor released its report on the employment in November which showed that non-farm payroll employment rose by 215,000, following a downwardly revised increase of 44,000 in October. Economists had expected payrolls to increase by 225,000 compared to the increase of 56,000 previously reported for October. Greenspan urges Congress to show unrgency on the budget deficit issue, before it is too late. |
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Jobs Rise by 215,000
Dec 02, 9:06 AM EST |
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| Oil prices neared $59 a barrel on cold weather forecast. Gold reached a 23-year high. The dollar strengthened. |
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| Asian-Pacific markets closed higher with the Nikkei up 1.9%, hitting a fresh five-year high of 15,421,60 on strong U.S. data. European shares advanced at mid-day on technology stocks with the CAC 40 rising 0.2% to 4,644 for the first time in three years. Key non-farm payrolls report is due out today, expected to show strong job growth in November and steady unemployment rate. |
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