Markets Open Up on Job News
Wall Street opened up this morning on news that the July unemployment rate dropped to 9.4 percent from 9.5 percent in June.
In the first 15 minutes of trading, the Dow was up about 60 points, or about 0.7 percent.
The broader S&P 500 was up about 0.8 percent and the tech-heavy Nasdaq was up nearly 1 percent.
Labor Secretary Hilda Solis said on CNBC moments ago that "we're at least on track to stabilizing the patient," saying the stimulus money had helped keep people in jobs. "But the patient still has a fever."
The Ticker will dive into the unemployment numbers later this morning.
President Obama will speak on the economy at 1:15 p.m. today.
August 7, 2009; 9:47 AM ET
Categories: The Ticker | Tags: Dow Jones, Hilda Solis, nasdaq, s&p 500, unemployment
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