NEW YORK (AP) -- Wall Street rallied Wednesday after new data showed the U.S. economy is in good shape and that another interest rate cut is still a possibility. The Dow Jones industrial average rose almost 200 points
Stocks turned around following two sessions of losses after a report showed hiring in the U.S. private sector expanded at a faster pace in November. ADP Employer Services said 189,000 jobs were added during the month -- an increase that bodes well for consumer spending.
The report raised hopes for a strong November jobs report from the Labor Department on Friday. Investors were also encouraged Wednesday after the department reported worker productivity advanced by an annual rate of 6.3 percent in the summer, the fastest pace in four years, while wage pressures eased.
Wednesday, December 5, 2007
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1 comments:
I think there is something else, the decreasing in intrest rates in the higher yileding economies like the UK. they expected a 0.25% and said maybe even 0.5%. at the end it was 0.25%
Regards,
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