theGrio and CNBC Market Update 9/10/12
VIDEO - Investors witnessed multi-year highs for the stock market last week, but all eyes were on the August jobs report, and the data was mixed...
Investors witnessed multi-year highs for the stock market last week, but all eyes were on the August jobs report, and the data was mixed. Ninety-six-thousand jobs were created, and the unemployment rate fell to 8.1 percent, but that is because the labor participation rate reached its lowest level since 1981. Food services and professional and business services added the most jobs. African-American unemployment held steady at 14.1 percent, while black teen unemployment rose to 37.9 percent, remaining the highest of any group. In the week ahead, we expect data on interest rates, small business and inflation.
The Federal Reserve will meet to discuss the economy and interest rates. During their August meeting the Fed left its key interest rate, which affects mortgage, credit card and student loan rates unchanged and said the economy has decelerated a bit and employment growth has slowed.
We’ll check the pulse of small business with the August survey from the NFIB. In July small business optimism dipped slightly to a 91.2 reading, marking three straight months of decline, as businesses worry about a slowdown in sales as demand weakens.
We’ll gain insight on inflation with the August Consumer Price Index Report, which tracks price changes for food, clothing and energy. In July, prices were flat compared to the previous month as energy prices declined.
That’s your CNBC market look ahead for theGrio.com.
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