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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Mar 11, 2005
Page
5
The Labor Department said new claims for unemployment benefits increased by 17 000 to 327 000 last week the highest in two months. The four week moving average rose to 312 500 from 307 750 as offices were closed for President Day creating a one week distortion. The report notes weaker demand and layoff surges.
New York stocks closed narrowly mixed as mixed inflation signals and a slide in oil prices influenced trading. Blue chips led gains while tech shares wavered. the Dow rose 38.22 to 10 843.84, S&P 500 up 1.76, Nasdaq down 3.77, and 10-year yields slipped to 4.46 percent on a cautious backdrop.
The Online Publishers Association with comScore Networks reports consumer spending on online entertainment, music, dating sites, and business information rose 14 percent last year to 18 billion dollars. Entertainment spending led with a 90 percent jump from the previous year.
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