ACCESS REALMONEY
Market Features
- Article Tools
- Email this Article
- Print this Article
- Rss Feed
- Related Articles
- Del.icio.us
- Digg
- StumbleUpon
A survey showing the services sector of the economy is faring no better than the nation's factories was contributing to the weakness in stocks Thursday. The Institute of Supply Management's index for services, by far the largest part of the economy, came in at 50.9 in August. While anything over 50 indicates expansion the August reading showed the slowest pace since January, and was down from 53.1 in July. The reading measures activity among financial services, construction, retail and other non-manufacturing businesses. Economists had been a reading of about 54 in August. The disappointing number exacerbated losses in the Dow Jones Industrial Average, which was trading down about 100 points at noon. On Tuesday, the ISM's U.S. factory index came in at a disappointing 50.5 in August, unchanged from July and slightly below economists' expectations. Thursday's services report showed that new orders for service companies fell to 51.6 in August from 52.6 in July. Order backlogs rose to 48 from 43.5. The report is based on a survey of 375 companies in 17 industries. Ten industries reported growth in August, led by entertainment, utilities and real estate, according to the report.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
Keep on top of the market and the critical information you need to make more profitable investing decisions.
Sponsored by:
RSS
