Jobless rate dips to 4.2 percent in May amid slow job gains
The Labor Department reports the unemployment rate fell to 4.2 percent in May, a 29 year low, while payroll jobs rose only 11,000. Black unemployment hit a record low, teen and adult women rates also declined, yet overall hiring slowed from April. Analysts cite a tight labor market and a shift from rapid growth to sustainable pace.
MENTIONED IN THIS ARTICLE
Ashington
U.S
Labor Department
White House
Alexis Herman
Federal Reserve
May
Investor caution replaces prior market exuberance
NEW YORK AP reports that following the Fed May 18 statement on tighter credit, investors grew wary. A 30 percent drop in Internet stock prices since April and wider yield spreads between Treasuries and riskier bonds show the shift. Analysts note fear edging greed as inflation concerns persist, while a global recovery outlook and lower deflation fears push investors toward economically sensitive equities and mid to small cap shares.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Fed
Treasury
Byron Wien
Morgan Stanley
Dean Witter & Co
Jim Griffin
Aerius Investment Management
Hartford
Alan Greenspan
Central Bank
United States
Greg Smith
Prudential Securities
U.S. Treasuries
Smith
Traders lift stocks as inflation fears ease on report
Wall Street rose Friday on a government report showing inflation and the economy were not overheating. The Dow gained 136.15 to 10,799.84 while the Nasdaq advanced amid bargain hunting after a weaker than expected May job gain of 11,000 and a 3.6 percent year over year rise in average hourly earnings.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
Dow Jones
Labor Department
Particu
Fed
Bob Dickey
Daii Rauscher Wessels
Minneapolis
U.S
Home ownership still outweighs stock in American portfolios
The Federal Reserve findings show most households own real estate while stock ownership is concentrated among the rich. By mid-1998 sector stock holdings surpassed real estate, yet typical households own few or no stocks. The misimpression stemmed from confusing sector totals with ordinary family holdings.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Main Street
Federal Reserve
Fed
New York Fed
Joseph Tracy
Henry Schneider
Lewin Chan
Also Mentioned on This Page
Nneemeneeene
Ron Campbell
Aymond James Financial Services
Ene
Abbott Labs
Allegheny Electric
AFLAC
Ameritech
At&t Corp
AM. Water Works
Anheuser-Busch
Apple Computer
IND. Tech
Ashland Coal Inc
Ashland Oil Inc
Atlantic Richfield
Baker-Hughes Inc
Baltimore Gas & EL
Bethlehem Steel
Boeing CO
CBS Corp
Cabot Oil & Gas
Carolina Powers
Chevron Corp
Chubb Corp
Citizens Utilities
Coca-Cola CO
Columbia Gas Sys
Columbia Healthcare
CON
Nat'l Gas
Corning Inc
Suntrust Banks
CSX Corp
CVS Corp
Daimlerchrysler AG
Detroit Edison
Dominion Res
DOW Chemical
Dupont
Eastern Ent
Eastman Kodak
Emerson Electric
Ethyl Corp
Exxon Corp
First Union Corp
1St Virginia Bank
Flowers Industries
FMC Corp
Food Lion Inc
Ford Motor CO
GEN. Electric CO
GEN. Motors Corp
GTE
Georgia Pacific
Gillette
GLAXO
Goodyear Tire
Hercules Inc
Humana Corp
IBM Corp
Ingersoll Rand
Intel Corporation
K-Mart Corp
Kroger CO
Lowe's Cos
Lucent Technologies
McDonald's Corp
Merck & CO. Inc
Microsoft Corp
Mobil Corp
Monsanto CO
Mylan Labs, Inc
Nash Finch CO
Navistar Int'l
Nike, Inc
Norfolk Southern
Occidental Pete
ONE Valley Bank
J.C. Penney CO
Pennzoil CO
Pepsico Inc
Phila. Electric
Pittston
Burlington
Pittston Minerals
Potomac Elec
PWR
Praxair, Inc
Pulaski Furniture
Reebok Int'l
REX Stores Corp
Reynolds Metals
Rite Aid Corp
RJR Nabisco Hldg
Rockwell Int'l
Sara Lee Corp
Sears Roebuck
Sherwin Williams
Shoney's Inc
TRI Continental
Union Carbide
Union Pacific
Unisys Corp. Universal Corp
Usair Group
USX
Marathon Oil
U.S. Steel
Wal-Mart
Walt Disney CO
Wendy's Int'l
Westvaco Corp
Williams Cos
Valley Nat'l Gases
Xerox Corp
Vorce
Arte
Thousa
THE
Salvation Army Family Thrift Store
Mercer Street
Princeton
Wvlottery
West Virginia
Board of Governors
Physicians’ Health Center, Inc
St. Luke's
Manju Sheth
American Board of Medicine
Southview Drive
Bluefield
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