Comment
0
Tweet
0
Print
RSS Feeds

Stocks climb on jobs news...States fear loss of health care aid...Tattoos to prove loyalty?

Friday - 5/3/2013, 3:28pm  ET

NEW YORK (AP) -- Today's better-than-expected employment report has lifted the stock market to new heights. This morning the Dow Jones industrial average crossed 15,000 for the first time and the Standard and Poor's 500 index broke through 1,600 for the first time. Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank, says "We're breaking through psychological barriers and that will continue to bring investors off the sidelines."

WASHINGTON (AP) -- One analyst says the April employment numbers suggest that federal budget cutting "does not mean recession" or a "dramatic slowdown." The Labor Department says employers added 165,000 jobs last month, and far more in February and March than previously thought. The jobless rate fell to a four-year low of 7.5 percent.

WASHINGTON (AP) -- States say thousands of people with serious medical problems are in danger of losing their health coverage because the Pre-Existing Condition Insurance Plan is running out of money. The program was meant as a stopgap until next year, when the new health care law will compel insurance companies to accept people regardless of their medical problems. But the costs turned out to be greater than expected, and the program is nearing its $5 billion spending cap.

DHAKA, Bangladesh (AP) -- The finance minister in Bangladesh is downplaying the impact of last week's factory building collapse on the country's garment industry, saying he doesn't think there's a "really serious" problem there. He says what happened was "an accident" and that his government has taken "quite elaborate" steps to "make sure that it doesn't happen." The finance minister spoke hours after the body of the 500th victim was pulled from the debris.

NEW YORK (AP) -- Getting tattooed with the company logo is all the rage at one New York City brokerage firm. The CEO of Rapid Realty NYC says about 40 employees have gotten inked in the past two years. He says workers are "passionate about the brand" -- but their enthusiasm could have something to do with the extra 15 percent in commission that comes with the tattoo. The company began offering the reward after one employee got the tattoo to show his loyalty.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.