Thursday, July 01, 2010
U.S. stocks crumple as economic worries persist
U.S. STOCKS CRUMPLE AS ECONOMIC WORRIES PERSIST
U.S. stocks fall sharply on the third quarter's first day of trading,
weighed by concerns over an unexpected rise in jobless claims and
disappointing U.S. and Chinese manufacturing data.
TREASURYS RISE AFTER ISM, HOME-SALES REPORTS
Treasury prices rise after weak economic reports sour hopes of an
economic rebound and weigh on stocks, increasing the relative appeal
of U.S. debt.
MANUFACTURING GROWTH MODERATES IN JUNE
Despite its slight decline in June, the Institute for Supply
Management index remains at a high level historically.
JOBLESS CLAIMS CLIMB 13,000 TO 472,000
The number of people filing first-time claims for unemployment
benefits climbs 13,000 in the latest week to 472,000, indicating
continued weakness in the labor market.
PLANNED LAYOFFS FALL TO FEWEST IN A DECADE
Large U.S. employers reduced their planned layoffs in the first half
of 2010 to the slowest pace in a decade, according to the latest count
released by outplacement firm Challenger Gray & Christmas.
