Thu Jan 17, 2013, 03:38 PM
Purveyor (23,860 posts)
S&P 500 At Five-Year High With Boost From Data, eBay
NEW YORK | Thu Jan 17, 2013 3:26pm EST
(Reuters) - Stocks climbed on Thursday, with the S&P 500 advancing to a five-year intraday high on signs of strength in the housing and job markets and on better-than-expected results from online marketplace eBay (EBAY.O).
The number of Americans filing new claims for unemployment benefits fell to a five-year low last week and housing starts jumped last month to the highest since June 2008.
Strength in the housing and labor markets is key to sustained growth and higher corporate profits. Job market improvement helps stimulate consumer spending while a recovery in housing means more purchases of appliances, furniture and other household goods as well as a source of employment.
The S&P is on track for its third consecutive advance, which pushed the index above an intraday peak set in September to its highest since December 2007. The PHLX semiconductor index .SOX, up 1.7 percent, reached its highest level in eight months.
Read more: http://www.reuters.com/article/2013/01/17/us-markets-stocks-idUSBRE90D0CG20130117
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S&P 500 At Five-Year High With Boost From Data, eBay (Original post)
Response to Purveyor (Original post)
Thu Jan 17, 2013, 03:39 PM
Purveyor (23,860 posts)
1. Also Read: Ranks Of Working Poor Increasing
WASHINGTON POST - The ranks of the so-called working poor have grown even as the nation is showing signs of shaking off the worst effects of the recession.
Nearly a third of the nation’s working families earn salaries so low that they struggle to pay for their necessities, according to a new report.
The ranks of the so-called working poor have grown even as the nation has created new jobs for 27 consecutive months and is showing other signs of shaking off the worst effects of the recession.
“Although many people are returning to work, they are often taking jobs with lower wages and less job security, compared with the middle class jobs they held before the downturn,” according to a report released Tuesday by the Working Poor Families Project, a national initiative aimed at fostering state policies to help low-income working families.
With the nation’s economy in recovery, the report said, more than 70 percent of low-income families and half of all poor families were working by 2011. The problem is they did not earn enough to cover their basic living expenses.