Evening Market Wrap

Evening Market Wrap Friday, October 7, 2011, 17:01 Contents Commentary Economic News Currency Alerts Commentary Stocks Close Mostly Lower Following Volatile Trading Day - U.S. Commentary Stocks saw considerable volatility over the course of the trading day on Friday before ending the session mostly lower. The choppy trading came as traders digested some relatively upbeat employment data amid renewed concerns about the financial situation in Europe. (Oct 7, 2011) Full Article Economic News U.S. Job Growth Exceeds Estimates But Unemployment Rate Remains Elevated Boosted in part by the end of a Verizon (VZ) strike, the U.S. economy added more jobs than expected in the month of September, according to figures released Friday by the Labor Department, although the unemployment rate remained unchanged. Total non-farm payroll employment increased by 103,000 jobs in September, as the addition of 137,000 private sector jobs more than offset the loss of 34,000 government jobs. The overall job creation figure far exceeds the 65,000 predicted by economists. (Oct 7, 2011) Full Article U.S. Wholesale Inventories Up 0.4% In August, Less Than Expected Wholesale inventories in the U.S. increased by less than expected in the month of August, according to a report released by the Commerce Department on Friday, although the report also showed a notable increase in wholesale sales. According to the report, total inventories of merchant wholesalers came in at a seasonally adjusted level of $464.3 billion at the end of August, an increase of 0.4 percent from the July level, which was virtually unchanged from initial reports. (Oct 7, 2011) Full Article U.S. Consumer Credit Unexpectedly Fell By $9.5 Bln In August Consumer credit in the U.S. unexpectedly showed a notable decrease in the month of August, according to a report released by the Federal Reserve on Friday, with the report showing a significant drop in non-revolving credit. The Fed said consumer credit fell by $9.5 billion in August following an $11.9 billion increase in July. The drop surprised economists, who had expected consumer credit to increase by $8.0 billion. (Oct 7, 2011) Full Article Currency Alerts Dollar Steadies Versus Euro As Fitch Downgrades Italy The dollar stormed back from early losses versus the euro on Friday, after ratings agency Fitch raised red flags about Italy's ability get its fiscal affairs in order. Hours after Moody's downgraded numerous banks in the U.K. and Portugal, Fitch downgraded Italy's sovereign credit rating and says the outlook on its long-term ratings is negative. (Oct 7, 2011) Full Article Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service