- Chinese Death Star: The moon cited as the perfect launch pad for ballistic missiles
- Help wanted: Homeland Security plagued by vacancies at the top
- We are not amused: Queen’s protection officers warned to keep ‘sticky fingers’ off the royal cashews
- Unleash the crossbows: Gov. Scott Walker creates new hunting season
- Bubonic plague kills 20 in Madagascar
- G-20 diplomats fell for hacker attack promising nude photos of former French first lady Carla Bruni
- Minnesota guardsman charged with stealing private soldier data for fake IDs
- Florida appeals court rules universities can’t regulate guns
- Vladimir Putin defends Russian conservative values
- Tea Party Patriots call key GOP firing a declaration of war
Wall Street greets jobless increase with new rally
Question of the Day
U.S. stock markets shrugged off an uptick in the national employment rate, with the Dow Jones Industrial Index crossing the 14,000 mark for the first time since 2007 in early trading Friday. The Dow fell back below that benchmark later in the morning, but was still up more than 100 points, or nearly 1 percent.
The Dow, the broader Standard & Poor’s index of 500 stocks and the NASDAQ market were all up strongly Friday, despite the news from the Labor Department that the nation’s unemployment rate increased from 7.8 percent in December to 7.9 percent in January. Analysts said traders were more focused on upward revisions in previous months’ job creation numbers than in the modest official rate increase.
Stocks gaining value outnumbered those falling by a 4-to-1 margin in the first hour of trading. Among those setting all-time higher were News Corp. and Discovery Communications.
Despite the jobs number and a report earlier this week showing the U.S. economy actually shrank by 0.1 percent in the fourth quarter of 2012. analysts said the market may be preparing for a run at the Dow’s all-time high closing of 14,164 set on Oct. 9, 2007.
© Copyright 2013 The Washington Times, LLC. Click here for reprint permission.
About the Author
Raised in Northern Virginia, David R. Sands received an undergraduate degree from the University of Virginia and a master’s degree from the Fletcher School of Law and Diplomacy at Tufts University. He worked as a reporter for several Washington-area business publications before joining The Washington Times.
At The Times, Mr. Sands has covered numerous beats, including international trade, banking, politics ...
- SANDS: Nelson Mandela at the chessboard: A prisoner's solace
- SANDS: Shark attack: Miami wins first U.S. Chess League title
- SANDS: Magnus Carlsen's future bright as the new king of chess
- Norway's Magnus Carlsen wins world chess title
- Magnus Carlsen on verge of world chess title with quick win over champion
Latest Blog Entries
By Matt Kibbe
The short-term deal will assure long-term overspending
- Obama's Afghanistan experts stumped on U.S. death toll, war costs during hearing
- Comma on!: Twitter erupts over Obama-Castro 'marriage'
- NAPOLITANO: A conspiracy so vast
- All-out war breaks out in GOP over budget pact
- White House faces press revolt over access to Obama's South Africa flight
- MALCOLM/REIMER: Over-criminalization undermines respect for legal system
- GOP Rep. Tim Murphy rolls out mental health legislation
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- Selfie at heart of Obama fiasco to stay secret
- Biden guarantees victory on immigration reform
Independent voices from the The Washington Times Communities
Chef Mary Moran discusses the food we eat, where it comes from and what it does for us.
An informed and often humorous take on the world of advertising, public relations and social media. 100% Pure. Not from concentrate.
Does it take over 25 years in public service to really know what goes on in Washington?
NFL junkie Eric Golub reports on his favorite obsession. There is no football offseason. Every February he pretends to care about other sports while sobbing uncontrollably each Sunday until September.
Extraordinary day at Redskins Park
White House pets gone wild!
Let it snow