So far today, Dow has slipped 38 points, now at 12,567.
NEW YORK (AP) — Stocks slid Friday on signs that U.S. consumer
demand may be weakening and fears about the Greek debt crisis.
The Dow Jones industrial average fell 78 points, or 0.6 percent, to
12,527 in afternoon trading.
The Standard & Poor’s 500 index fell 9, or 0.7 percent, to
1,334. The Nasdaq composite fell 22, or 0.8 percent, to 2,801.
Gap Inc. plunged 17 percent after reporting late Thursday that its
costs for raw materials rose faster than expected, hurting its
quarterly profit. The national clothing chain also cut its forecast
for what it would earn in the full year.
Gap’s sales have been sluggish, a worrying sign for investors who
are counting on shoppers to lead a recovery in consumer spending.
Gap’s results pushed down other clothing companies who have been
hit hard by the rising price of cotton and shoppers who are
reluctant to splurge. Four of the five worst-performing stocks in
the S&P 500 Friday were retailers. Urban Outfitters Inc. fell 5
percent. Ralph Lauren Corp., Limited Brands Inc., and VF Corp. also
Other retailers have also been struggling. On Thursday Big Lots
Inc. fell 9 percent after news reports that it had decided not to
sell itself to private equity firms.
One exception to the retailer gloom was Barnes & Noble Inc. The
bookseller jumped 29 percent after announcing late Thursday that
Liberty Media Corp. had offered to buy the company for $1 billion
…. and it looks like Kitsap County has had little change in
racial and ethnic makeup over the past 10 years. In 2010, 83
percent of Kitsap residents were white; 6 percent Hispanic; 5
percent Asian; 3 percent black; and 2 percent Native American.
The most significant change, and there wasn’t much, was the
growing percentage of Hispanics in Kitsap County, from 4 percent in
2000 to 6 percent in 2010. In real numbers, 9,609 Hispanics lived
in Kitsap County in 2000, and in 2010 that number had grown to
More coming in a few days as I continue to sift through
Rachel Pritchett, reporter
This news release from the Washington Employment Security
Department. Rachel Pritchett
OLYMPIA – Washington’s black-and-blue economy continued its
comeback in April.
The state added an estimated 5,800 jobs last month, while the
unemployment rate dipped from 9.2 to 9.1 percent.
Since April 2010, Washington has added an estimated 41,500
“We’re beginning to see job growth pick up some real momentum,”
said Employment Security Commissioner Paul Trause. “It’s tough to
not feel optimistic about where we’re going.”
Industries that posted gains in April were construction, up 2,400;
professional and business services, up 1,700; manufacturing, up
1,200; retail trade, up 900; transportation, warehousing and
utilities, up 900; information, up 900; education and health
services, up 900; financial activities, up 500; and wholesale
trade, up 200.
Jobs were lost in government, down 2,500; other services, down 800;
and leisure and hospitality, down 500.
An estimated 307,737 people (not seasonally adjusted) in Washington
were unemployed and looking for work in April, and 217,038 people
received unemployment benefits from Washington.
Employment Security is a partner in the statewide WorkSource
system, which offers a variety of employment and training services
for job seekers, including free help with interviewing skills,
résumés and job referrals. WorkSource also can help employers
recruit and screen for qualified workers, apply for employment tax
breaks and qualify for subsidized employee training.
Locations of local WorkSource offices are listed online at
www.go2worksource.com. Assistance also is available by phone at
In addition, more than 22,000 job openings are posted online at
Dow now at 12,807 or so, midday.
NEW YORK (AP) — Energy and materials companies are pushing
stocks higher as prices for oil and other commodities rose, but
mixed earnings reports from retailers are tempering gains.
Oil rose to nearly $100 a barrel because of a weaker dollar,
sending energy stocks in the S&P 500 up the most of the 10
industry groups in the index.
The Dow Jones industrial average is up 20 points, or 0.2 percent,
at 12,500. The Standard & Poor’s 500 index is up 6 points, or
0.4 percent, at 1,334.
Strong earnings from Dell Inc. helped push the technology-focused
Nasdaq composite index up 14 points, or 0.5 percent, at 2,797.
Staples Inc. plunged 19 percent after the office-supply company
reported sales that were weaker than investors were expecting. The
company also lowered its full-year earnings forecast.
At midday, Dow was at 12,443, down 105 points
NEW YORK (AP) — Tech giant Hewlett Packard dragged the Dow Jones
industrial average lower on Tuesday. Worries over the economic
growth also weighed on stocks and drove bond yields to their lowest
levels this year.
Hewlett Packard Co., the world’s largest technology company by
revenue, lowered its earnings outlook for the rest of the year. The
company expects weaker sales of personal computers. HP’s stock fell
9 percent, more than any other company in the Dow average.
Economic reports also raised concerns about the economy’s strength.
The Federal Reserve said U.S. factories produced fewer goods in
April for the first time in 10 months. The Commerce Department said
new home building plunged. Apartment construction plummeted more
than 28 percent.
The two reports drove traders into U.S. government bonds, pushing
yields to their lowest level this year. The yield on the 10-year
Treasury note sank to 3.10 percent. When bond prices rise, their
“There’s a high degree of caution right now,” said Jack Ablin,
chief investment officer at Harris Private Bank in Chicago. “People
are worried about big picture issues that need to be resolved.”
In early afternoon trading, the Dow is down 105 points, or 0.8
percent, to 12,443. The Standard & Poor’s 500 index is down 6
points, or 0.4 percent, to 1,324. The Nasdaq composite is down 13
points, or 0.5 percent, to 2,769.
This notice from the Washington Department of Revenue. If I
wasn’t going to be here, I’d be there, just because it sounds kind
of fun. — Rachel Pritchett
OLYMPIA – Thousands of items from unclaimed safe deposit boxes
go up for auction Wednesday.
Jewelry, precious metals and collectibles are among 2,900 lots of
unclaimed property treasures up for auction at James G. Murphy,
Inc., 18226 – 68th Ave. NE, Kenmore beginning at 9 a.m. on May 18
and 19. The auction will continue each day until all lots for
that day are auctioned off. Interested parties can preview
items from 8 a.m. to 4 p.m. today and Tuesday, or online at
www.murphyauction.com. Online bids can be made during the
An 1846 US Navy Powder Flask and sports memorabilia, including a
1989 Barry Sanders rookie card, and cards autographed by Michael
Jordon and Tony Gwyn, are among other items turned over to the
Department of Revenue after banks and credit unions lose contact
with owners and have not received rental fees for at least five
years. The Department seeks out owners but by law must auction off
the property within five years of receipt.
Anyone who recognizes property as their own can still claim it, but
only up until 5 p.m. on May 17. After that, the property will be
auctioned off although the claimants will still be entitled to the
proceeds at any time in the future. Potential claimants should
email the Department immediately at firstname.lastname@example.org and identify the
unclaimed property to be claimed.
In addition to safe deposit contents, unclaimed property includes
uncashed payroll checks, savings and checking accounts, and stocks
and bonds. Each fall more unclaimed property is turned over to the
Department. An online searchable database and claims system makes
it easy to check for and claim property. The database is available
In case you missed it this morning at www.kitsapsun.com, here is
the link to my story about last week’s Port of Bremerton meeting on
the 737 to which the media was not invited. I was able to piece
together a story Monday, based on attendees’ description of what
went on. Also, find below some conclusions I found about Kitsap
County’s workforce that I didn’t have room to put in the story.
Rachel Pritchett, reporter
Kitsap County’s workforce
According to statistics gather by the Washington Department of
Employment Security …
The Kitsap County workforce has about 5 percent more members
with some college compared to the state average.
The Kitsap County workforce has roughly 2 percent more members with
associates’ degrees compared to the state average.
The Kitsap County workforce has roughly 9 percent more members with
some college compared to the U.S. average.
The Kitsap County workforce has roughly 4 percent more members with
associates’ degrees compared to the U.S. average.
The Kitsap County workforce has about 4 percent fewer members with
a high school diploma or GED than the U.S. average.
Dow settled at 12,807, minus 3 points.
NEW YORK (AP) — Stocks closed lower for a second day, dragged
down by technology companies and concerns about Europe’s debts.
European finance ministers approved $110 billion in rescue loans to
Portugal on Monday, but have yet to decide on another rescue
package for Greece.
The arrest of the head of the IMF could make solving Greece’s
problems more difficult.
Technology companies sustained the largest losses. Yahoo! Inc.,
Amazon.com Inc. fell by more than 4 percent.
The Dow Jones industrial average lost 47 points, or 0.4 percent, to
close at 12,548. The S&P 500 fell 8 points, or 0.6 percent, to
1,329. The Nasdaq fell 46, or 1.6 percent, to 2,782.
More than two shares fell for every one that rose on the New York
Stock Exchange. Trading volume was 3.5 billion shares.
Gas was going for the princely sum of $4.04 per gallon of
unleaded Monday. That’s nevertheless cheaper than it was last week
at its height of $4.06 average per gallon of unleaded and signals
the start of a downward trend. Read on …
The Associated press
Drivers are starting to see a little relief at the gas pump just
ahead of the summer driving season.
The average price for a gallon of regular was $3.955 nationally on
Monday. That’s down about 3 cents from Friday, but still nearly 14
cents more than it was a month ago, according to AAA, Wright
Express and the Oil Price Information Service.
Motorists in about two dozen states are paying more than the
national average, and in 13 states the pump price is above $4 a
gallon. Analysts expect prices to continue to fall across the
country, perhaps as much as a quarter or more by Memorial Day.
Oil prices rocketed up 34 percent from mid-February through early
May on fears that supplies could be disrupted because of uprisings
in the Middle East and North Africa. Those fears have begun to
abate as supplies continue to flow from the oil-rich region.
Traders also are more optimistic that Mississippi River flooding
will not seriously interfere with operations at Gulf Coast
refineries. The Army Corps of Engineers opened two massive gates at
the Morganza spillway last weekend in an effort to protect Baton
Rouge, La., and New Orleans from floodwaters.
In addition, gasoline supplies have remained ample as Americans
have cut back on driving because of high gas prices.
Tom Kloza, publisher and chief oil analyst at OPIS, predicted pump
prices will range between $3.25 a gallon and $3.75 a gallon by
mid-June, with the biggest declines in regions that don’t rely on
supplies from Gulf Coast refineries, such as the Midwest and the
I am working on a story now about new efforts by the Port of
Bremerton and other local governmental entities to convince The
Boeing Co. to stay in Washington, should it decide to build a new
version of the 737. Stay tuned.
Rachel Pritchett, 475-3783