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December 2, 2008 10:28:57 PM CST


Beige Book

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Global Stocks Down as US
Job Losses
Rattle Markets

Employers may have shed 75,000 posts

(Newser) - Stocks fell in Europe and Asia today, marking the worst weekly slump in 6 years, according to the MSCI World Index. Markets were depressed by grim news expected in the latest US employment report due out this morning, reports Bloomberg. Economists predict figures will show a US loss of 75,000 jobs last month—the worst drop in almost 5 years. "The labor market pretty much hit the skids in August,'' said an analyst. More »

More about:  US economy economy recession unemployment economic indicators Beige Book

MARKETS

 Mixed News Keeps Gains Slim 

Markets absorb gloomy Fed data and continued oil drop

(Newser) - The markets pared earlier gains to end just slightly positive today, amid mixed earnings reports and a gloomy-but-expected Federal Reserve data on the US economy, the Wall Street Journal reports. The Dow gained 29.88, closing at 11,632.38. The Nasdaq gained 21.92, settling at 2,325.88, while the S&P 500 fell 5.19 to 1,282.19. More »

More about:  Dow Jones S&P 500 Federal Reserve Nasdaq Fannie Mae Freddie Mac AT&T Pfizer Beige Book

MARKETS

Early Rally Falls Flat, Recovers

Stocks creep back up after a hit from Ambac plan

(Newser) - After an early rally, stocks fell after being hit with news on Ambac Financial's restructuring plan, but then regained some of the lost territory by the closing bell. Shares fell after Ambac said that instead of a bailout plan, it would raise money through a sell-off and restructuring, reports CNNMoney. The Dow ended up 41.19 to 12,254.99, the Nasdaq 12.53 to 2,272.81, and the S&P 6.95 to 1,333.7. More »

More about:  stock market S&P 500 Nasdaq Ambac Dow Industrial stagflation Beige Book

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