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Industry: Email Alert RSS FeedPayroll dip means payday on Wall Street.
Investment News, August, 2000 by Kelly, Frank
Bad news for working stiffs was good news on Wall Street again. Stocks rose Friday after a report that employment slowed in July, capping the Street's first positive week since the middle of last month. Analysts feel those figures may keep the Fed's inflation fighters from raising interest rates when they meet Aug. 22. "Nothing guarantees anything with the Fed, but this comes pretty close," Greg Jones, chief economist at Briefing.com, told CNNfn. "Showing a slowdown in job growth is critical. I don't think they are going to be raising in August."
The Nasdaq Composite index jumped 27.48 points Friday to 3,787.36, bringing its weekly advance to 3.3%. The Dow Jones Industrial Index gained 61.17 Friday to close at 10,767.75, up 2.4% for the week, as gains to...
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