Morning Briefing
Published: Fri, Dec. 29, 2006 12:00AM
Modified Fri, Dec. 29, 2006 07:30AM
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closeSTOCK TRADING FOR 2006 WRAPS TODAY
Stock traders might break out the bubbly early. Today is the last trading day of 2006, and it has been a banner year. Barring major bad news, stocks are likely to finish with the best annual performance since 2003. The Dow Jones industrial average is up 16.7 percent, and the S&P 500 is up 14.1 percent.
In June, the Federal Reserve decided against raising rates for the first time in two years, sparking a second-half rally in stocks. Higher corporate profits and lower energy prices also helped boost investors' returns.
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One sign of market optimism: Mutual-fund assets passed $10 trillion for the first time in October.
TRIANGLE JOBLESS RATE OUT
The Triangle's jobs market remains one of the state's strongest, and recent announcements of expansions by Fidelity, Quintiles and other large employers will only fuel that trend.
The N.C. Employment Security Commission this morning will release November employment data for the Triangle and other regions. The local jobless rate dipped slightly to 3.7 percent in October, below the state and national averages.
In November, the state rate climbed to 4.9 percent, above the U.S. average of 4.5 percent for the fourth consecutive month.
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