: First Drop In Productivity In Six Years
Edited by Thomas Granahan
Of DOW JONES NEWSWIRES
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8:35 (Dow Jones) Nonfarm productivity fell by 0.1% at an annual rate in Q1.
That was the first decline in productivity in six years. Unit labor costs
rose by a worrisome 5.2%, suggesting upward cost pressure on output prices.
(JM)
8:34 (Dow Jones) Stock futures weaken somewhat right after productivity
numbers, which fell unexpectedly. Unit labor costs also rose more than
expected. S&Ps up 4, Dow futures higher by 18. (TG)
8:30 (Dow Jones) Stocks looking higher. Cisco (CSCO) upgrade at J.P. Morgan
helps, as, apparently, does Dell's (DELL) pronouncement that it will hit 1Q
numbers. Cisco will post its quarterly results tonight, but more
importantly, may be able to provide more constructive guidance than it has
recently. At least, that's what some are betting on. Productivity numbers
for the 1Q are seen up 1%, and weekly retail sales are also on tap. Overseas
markets turning up, stock futures strong, and Tsys mixed in front of data.
(TG)
(END) DOW JONES NEWS 05-08-01
08:36 AM
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