A favorable report on the service sector sent stocks higher in a broad advance. Dow is up 91, advancers ahead of decliners better than 2-1 & NAZ is up 21. Institute for Supply Management said its new service sector index registered was 49.3 in Feb, up from 44.6 in Jan (a 6 year low). However a number below 50 indicates a contraction, but at least Feb was less bad than Jan. The Commerce Department reported new orders for manufactured goods in Jan fell 2½% from the previous month marking deterioration from the 2% increase in Dec. This was also the biggest decline in five months.
On the retail front, BJ's (BJ) was up 2.86 on good earnings. Jan numbers were very good & they raised earnings guidance for 2008. I think my friend helped, she gave them a lot of business over the weekend.
No comments:
Post a Comment