Daily Briefing

DAILY BRIEFING

August 06, 2009

Weak economic data put stock market rally on hold

NEW YORK - The closer investors get to the government's July employment report, the more cautious they become. Stocks slipped Wednesday as investors shied from making big moves ahead of the government's monthly reading on job losses and the unemployment rate, which comes out before the start of trading on Friday. The pullback, which took the Dow Jones industrials down 39 points, followed a 34-point gain Tuesday that was a slowdown from the previous day's triple-digit advance. The big concern on Wall Street is layoffs, and whether companies trying to preserve their profits during the recession are continuing to slash jobs at a furious pace. The caution in Wednesday's trading followed a disappointing report. The Institute for Supply Management said its service index, a measure of the health of retail, financial services, transportation and health care companies, fell to 46.4 in July from 47 in June.

- Associated Press

Giant Food to celebrate Towson store reopening

Giant Food is hosting a week of events starting Friday to celebrate renovations at its Towson store on Loch Raven Boulevard. The events include a ribbon cutting, complimentary snacks and gifts, tastings and entertainment. The re-opening is part of a three-year plan by Giant to re-model or replace 100 stores in Maryland, Washington, Northern Virginia and Delaware. Activities include raffles, tastings and giveaways such as $10 gift cards.

- Andrea K. Walker

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.