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Friday, October 03, 2008
Dollar Firms After U.S. Jobs Report
Nick Godt
MarketWatch Pulse
NEW YORK -- The dollar firmed against major counterparts early Friday, after the governmnent reported the U.S. economy lost 159,000 jobs in September, while the unemployment rate remained steady at 6.1%. The dollar index , which measures the U.S. unit against a basket of six major currencies, was up 0.3% at 80.785. Ahead of the data, it stood at 80.17, down from 80.535 late Thursday. While the number of lost jobs was more than the 110,000 jobs expected by economists surveyed by MarketWatch, some in the market feared even worse numbers. Deutsche Bank economists Thursday expected the economy to have lost 250,000 jobs.
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Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.
So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.
Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.






