theGrio and CNBC Market Update: 3/11/13
VIDEO - In addition to seeing the Dow Jones Industrials reach an all-time high last week, investors kept an eye on jobs...
In addition to seeing the Dow Jones Industrials reach an all-time high last week, investors kept an eye on jobs. In February the unemployment rate fell to 7.7 percent as 236,000 jobs were created, professional, business services and construction added the most jobs. African-American unemployment was unchanged at 13.8 percent, but black teen unemployment jumped to 43.1 percent, remaining by far the highest of any group. In the week ahead, we expect data on small business, inflation and consumer sentiment.
We’ll check the pulse of small businesses with the February survey from the Nation Federation of Independent Business. In January small business optimism rose nearly 1 point to an 88.9 reading, marking two consecutive months of gains as businesses expect sales to improve.
We’ll get a read on inflation with the February consumer price index report, which tracks price changes for food, clothing and energy. In January consumer prices were flat overall as gas prices fell for the third month in a row, offsetting higher rent and clothing prices.
Are you feeling better about the economy? We’ll find out with the initial consumer sentiment report for March. In February sentiment rose to a 77.6 reading as consumers brushed off the sequester headlines. Sentiment is a gauge of consumer spending.
