Read Trending Stories
- » Ultimate Market Recap: Talbots Tanks, Facebook Fiasco Continues
- » Are Facebook Losses Bigger Than Initially Thought?
- » Consumer Business Recap: Toyota Needs Emerging Markets, Wal-Mart's Express Update
- » Consumer Biz Recap: Talbots CRASHES HARD, Time Warner Eyes Sports Website
- » Your Cheat Sheet to Apple's Week of Stock Moving News
Today's Trending Stocks
Click a Company to Research Now:
- Bank of America (BAC)
- Apple . (AAPL)
- Facebook (FB)
- AT&T (T)
- Nokia (NOK)
- Delcath Systems (DCTH)
- Mentor Graphics Corp (MENT)
- Complete Genomics (GNOM)
The Institute for Supply Management’s services index rose in January to its highest level in nearly a year as new orders and employment jumped.
Hot Feature: Obama Administration to Shut Down Fannie and Freddie
The ISM services index, which measures the pace of growth in the U.S. services sector, rose to 56.8 in January from a revised 53.0 in December. It was the highest level since February 2011.
The new orders index rose from 54.6 to 59.4 in the month, though gauge of prices paid also rose, from 62.0 to 63.5.
The employment index rose to the highest level in six years, from 49.8 in December to 57.4 in January.
This morning’s Labor Department report — which showed the economy to have added 243,000 jobs last month, pushing the national unemployment rate to a three-year low — lends credence to the ISM data.
The services sector accounts for more than two-thirds of economic activity in the United States.
Don’t Miss: Senate Passes Insider Trading Ban for Members of Congress
To contact the reporter on this story: Emily Knapp at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!
Do You Want More Profits? Wall St. Cheat Sheet Premium newsletter subscribers have been crushing the markets with winning stock picks.
Click here now for your FREE trial to our acclaimed flagship newsletter:
