This is your Mid-day Market Update for August 8. Stocks making up losses after wall street started in the red this morning. Now the markets look to add a fourth day to its continuing winning streak.
New economic data from the Labor Department today, showing U.S. worker productivity rose in the second quarter as companies look to increase earnings with their existing staff. The rate rose to 1.6%, higher than the revised 0.5% last quarter. There was a slowdown in this number at the beginning of the year which caused companies to focus on efficiency rather than hiring new employees.
Oil and Gold seeing little change overnight. Oil is up over $94 a barrel and Gold is up $3 on the day to $1616 an ounce.
Winners in today's session so far include Dean Foods and Rackspace who both released better than expected quarterly results, trading up 36% and 11% respectively . The biggest loser: Priceline.com. It's shares dropping over 16% losing over $100 on its stock due to lower earnings guidance for the third quarter.
Currently, the Dow is up 16.72 points to 13,185. The S&P is up just under one point and the Nasdaq is trading relatively flat but down a tenth of a point currently. For more market updates and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com