Stocks are lower on weaker-than-expected unemployment report
Wall Street is lower after data showed an unexpected decline in non-farm payrolls in December.
U.S. employers cut 85,000 jobs last month, compared with a revised gain of 4,000 jobs in November, with the unemployment steady at 10 percent. Economists forecast non-farm payrolls would be unchanged last month.
The Dow Jones industrial average dropped 26.98 points, or 0.25 percent, to 10,579.88. The Standard & Poor’s 500 Index lost 2.86 points, or 0.25 percent, to 1,138.83. The Nasdaq Composite Index fell 6.16 points, or 0.27 percent, to 2,293.89.
XI’AN, China /PRNewswire-Asia-FirstCall/ — SkyPeople Fruit Juice, Inc. (NYSE Amex: SPU) (“SkyPeople” or “the Company”), a processor and manufacturer of concentrated kiwifruit, apple, pear and other fruit juices and fruit products in China, today announced continued governmental support for kiwifruit growers in Shaanxi Province and direct governmental support for SkyPeople Fruit Juice. Beginning in 2008, the Shaanxi Fruit Industry Council first announced it would support kiwifruit farmers with a yearly cash subsidy of 300RMB for each Chinese “mu” harvested for kiwifruit (the equivalent value would be approximately $267 USD per acre based on the exchange rate of of December 31, 2009). After an initial review of the program’s benefits over the last two years, the Shaanxi government reconfirmed support to maintain the program through 2015. Shaanxi Province is China’s largest growing area for kiwifruit. In particular, Shaanxi Qinling mountain area is the most fertile growing area for kiwifruit, which can grow 96% species of kiwifruit known worldwide. The output of the kiwifruit growing area was 350,000 tons in 2008.
Stocks surge higher in the first trading day of the New Year
Stocks moved higher Monday on the first day of trading in the New Year, following the lead of overseas markets.
A weakening dollar is also boosting commodities prices and stocks in early trading. An analyst’s upgrade of Intel Corp. is pushing the technology sector higher.
Asian markets rose after new data showed China’s manufacturing sector expanded at its fastest rate in 20 months in December. European markets also gained after the monthly purchasing managers’ index, a key gauge of manufacturing activity, for the 16 countries that use the euro rose to a 21-month high and a similar survey for Britain rose to a 25-month high.
Stocks are slightly lower as the dollar strengthens and GMAC looks for additional government aid
Stocks were mostly lower in early trading Wednesday as a stronger dollar weighed on commodities prices.
Some investors have been buying the dollar in recent weeks on the belief that the economy is improving and the Federal Reserve will raise interest rates in the next year. That buying interest comes after a months slide in the greenback. Rock-bottom interest rates have encouraged investors this year to move out of cash and into riskier assets like stocks and commodities that have the potential to earn bigger returns.