While Dow Jones industrial average registered an 82 points lowering with the value of 12, 398, the Nasdaq fell 19 points and the S&P went down with 8 points, the figures from the jobs market were the only ones to go high.
The Labour Department showed that payrolls went up at 167,000 in the last month of 2006 even though predictions were that they will go down at 100,000 from the November value of 132,000.
One of the companies which felt the direct effect of the stock market is the electronic retail chains “Best Buy” which reported like for like sales growth for the last December caused to the demand of flat screen TVs. “Circuit City Stores” is also sharing the same financial period as “Best Buy”.
Other lucky case is the one of “Wendy’s International” which registered a growth in sales of 3.1 percent for the same store at company owned restaurants, in the fourth quarter of 2006. On the other side of the hill, there stands Motorola with a fell that came right after it reduced its profit and sales forecast for the same fourth quarter of the year as the other companies.
Therefore, on a general view of financial lowering levels in all sectors, jobs are really on the thrown of the Wall Street stock market.
Tags: stock market, losses, retail chains, flat screen tvs, dow jones industrial, dow jones, restaurants, wall street, sectors, best buy, circuit city, nasdaq, dow jones industrial average, fourth quarter, motorola, wendy
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Source: http://www.articlealley.com/article_124864_19.html