E-mail updates
Follow on Twitter
Subscribe to RSSSigns that the nation's massive services sector continues to expand, albeit at a slower pace, helped push stocks into positive territory by midmorning on Wall Street on Wednesday.
The Institute for Supply Management's report showed the non-manufacturing sector expanded for the 22nd consecutive month in September, but at a slower pace than in August. Sentiment also may have been helped by news that payrolls processor ADP reported private employers added 91,000 jobs last month, higher than the 75,000 jobs that Reuters reported economists expected. The data are often looked at as a harbinger for the crucial Labor Department employment report due Friday.
Stocks had opened lower earlier amid uncertainty about how Europe would tackle its growing debt crisis. On Tuesday, Moody's credit ratings agency downgraded the debt of Italy, Europe's third largest economy.
Trading has been volatile lately, with shares making big swings during the sessions. On Tuesday, shares staged a rally in the last half hour to end higher.
Leave a Comment:
Welcome to the new America.
A nation of insurance salesmen and ribbon clerks.
Go super computers - Buy, sell, trade in miliseconds the same stocks over and over all day.
Service Sector on the rise.Whoopie Wow Yippee Ky Yo Ky Yea!
GUEST WHAT YA STUPID BLIND IDIOTS!This Country can't just survive on the Service Industries!How blatantly STUPID can anybody be!Give me a FRIGGEN break!
Doesn't look like there is much left in between trading stocks and flipping burgers.........
Hey MSLSD, cant you even get the information straight in 2 adjoining storys?
In this story you claim the Service Sector expanded, but in an adjoining story toy say THIS:
Employment in the vast services sector, which accounts for about two-thirds of economic activity in the U.S., fell 2.9 percent to 48.7 percent, indicating contraction in employment after 12 consecutive months of growth
There is a lot of misinformation being fed to us by the corporate media. For a discussion on this, see
There is a lot of misinformation being fed to us by the corporate media. For a discussion on this, see prairiefirenews com on the web.
Service sector is growing and expanding because Wall Street is growing and expanding.
See, more evidence that the economy is recovered ! There were green shoots everywhere, now we have a full blown recovery ! : ) The United States has become a service economy. We have lost our manufacturing base, and produce nothing. This is ok because the government can inject money into the economy to keep it running. The government can also create more government jobs that produce nothing. Although these jobs will only hasten the creation of national debt, and force private sector jobs out of business even faster it will make things look much better than they really are for a little while longer. Does anyone out there see where this is headed ? Anyone ? ? Why is their no story in the news about an impending total economic collapse, and what the collapse will likely look like ?
Yawn ! Crickets---Up - Down Are we all rich yet??
Let the debt ofGreece ,pourtogal,Spain,Italy &USA be paid by Selling Libyan petrol.Their population is only 50 million and they do not need so much money.Their percapita GDP must not exceed $4500 for next 20 years.There are other source of money.I will mention later on.World economic problem is not such difficult problem that can not be solved.Ask obama to take away his soldiers from Iraq,Afganistan,Japan and Korea.Peace will prevail in this world. There are otherways.All people should stop voting and electing their representatives.The whole world will be run by Armies.Let us see what happens.Politicians have failed.Let them take rest for minimum 30 years.