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February 01, 2013 at 11:50 AM EST
The Markets Now: Facebook Declines After Downgrades
A higher unemployment rate in January amidst a contraction of the GDP in the same week did not bolster investor confidence this morning bringing stocks lower. The unemployment rate ticked up to 7.9% in January adding 157 000 jobs. The measure of unemployment including both job seekers and part -time workers stayed the same at 14.4%. In other economic news consumer sentiment is up at 73.8 from 71.3 in mid-January indicating that consumer confidence is moving back on trend. Consumer sentiment hit the low 80s in October and November. The Dow (INDEXDJX:.DJI) inched up 0.99% to 13997.27 and the ...
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