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January 31, 2013 at 11:40 AM EST
The Markets Now: Facebook and Research In Motion Both Fell This Morning
A bleak jobless claims report soured investors earlier this morning until positive manufacturing data from Chicago lifted stocks. The Chicago purchasing managers' index spiked to 55.6 in January 5.6 points higher than December's reading. Employment saw the fastest labor expansion since June going up 11 points to 58.0. Initial jobless claims rose by 38 000 to 368 000 the greatest spike in claims since November. Seasonal volatility may be to blame however as employees hired for the holiday shopping season tend to lose their temporary work in January. In other economic news personal income increased 2.6% which was much ...
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