Job creation in the United States disappointed in August.
American payrolls had a monthly net increase of only 169,000 last
month, falling short of estimates. The unemployment rate declined
slightly to 7.3% as the labor participation rate fell.
Economists, taking cues from encouraging manufacturing and jobless
claims data, expected 180,000 new hires in August. June's number
was revised down by 16,000 to 172,000 and July's was cut from
162,000 to 104,000.The biggest job gains were in the retail sector,
while information services declined the most.
Before the jobs numbers came out, US stock index futures were in
(INDEXDJX:.DJI) futures were up 0.11% at 14,933. Futures contracts
(INDEXSP:.INX) rose 0.18% to 1,656.00 and
(INDEXNASDAQ:.IXIC) futures gained 0.26% to 3,136.00.
European shares mostly fell as it was revealed that Germany's
exports unexpectedly fell 1.1% on a monthly basis in July. This is
despite the widespread recovery in the eurozone. Industrial
production in the country fell 1.7% in the same month. A faltering
economy could hurt Chancellor Angela Merkel's bid for reelection.
British industrial production was flat in July, but fell 1.6% from
a year earlier.
(INDEXNIKKEI:NI225) fell 1.45% today despite a strong economic
forecast from the government. After 14 straight months of
standstill and worsening, July's coincident composite index showed
a high likelihood of economic expansion.
Smith & Wesson Holding Corporation
) shares dropped over 5% in the pre-market after the gun maker
offered disappointing guidance. The company beat earnings estimates
for the past quarter with earnings per share of $0.28. Sales were
up over 25% from a year earlier at $170 million. But for the
current quarter, the company sees $0.22 per share at most, which
fell short of analyst estimates.
) is reportedly ending its relationship with Martha Stewart. The
former CEO, Ron Johnson, started the branded line despite Stewart's
pre-existing relationship with rival
). A judge was about to rule on the celebrity's contract with
) shares rose 0.67% today on reports that it is finally coming to
an agreement to allow Japan's largest mobile carrier, DoCoMo, to
carry the iPhone.
Reuters reported last night that
) CEO Alan Mulally will step down in late 2014, which is sooner
than expected. Mulally was credited with making changes that saved
the automaker from collapse when he took the job in 2006.