Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Kenneth E. Phillipps who wrote (71381)	9/2/2009 9:24:41 AM
From: Hope Praytochange	of 224722

Futures Decline After ADP Report A WALL STREET JOURNAL ONLINE NEWS ROUNDUP Stock futures slipped after a closely watched precursor to the monthly jobs data came in worse than expected. About 35 minutes before the start of trading, Dow Jones Industrial Average futures were down by roughly 20 points. S&P 500 and Nasdaq futures were also lower. Changes in futures don't always accurately predict early market moves after the opening bell. A report from Automatic Data Processing and Macroeconomic Advisors said the U.S. private sector shed 298,000 jobs in August, a faster rate of job losses than the 213,000 economists were expecting. The report is a closely watched precursor to the monthly U.S. employment report due out on Friday. In other economic news, nonfarm business productivity rose at a 6.6% annual rate in the second quarter, its biggest increase in nearly six years. BP shares were higher by nearly 4% after it said it's made a giant oil discovery in the Gulf of Mexico. Ahead of a weekly oil inventories report at 10:30 a.m., crude-oil prices were flat. Financials led a sharp downturn in U.S. stocks Tuesday, extending a three-day losing streak with the worst single-day drop since Aug. 17. The Dow industrials dropped 185 points, the S&P 500 fell 22 and the Nasdaq Composite lost 40. Most Asian stock markets ended lower after the U.S. selloff, though China was an exception, with the Shanghai Composite gaining 1.2% after the government hiked fuel prices, lifting shares of oil refiners. European stocks were lower.

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