Services sector continues to expand
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 5 March 2024
⏱️ 1 minutes
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Summary
Stocks fall; service sector employment contracts; factory orders fall; Target sales decline.
Transcript
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| 0:00.0 | This is the marketplace minute. |
| 0:03.7 | I'm Justin Ho. |
| 0:05.0 | Stocks had a rough day on Tuesday. |
| 0:07.6 | The Dow and the S&P fell about 1%, and the NASDAQ dropped 1 and 2 thirds percent. |
| 0:13.0 | The services sector expanded in February for the 14th month in a row, |
| 0:17.5 | that's according to the Institute for Supply Management. |
| 0:20.0 | The majority of the businesses it surveyed said they were mostly positive about business conditions. |
| 0:24.9 | On the other hand, the service sector shed jobs for the second time in three months. |
| 0:29.7 | Orders of manufactured goods dropped in January compared to the month before. |
| 0:34.0 | That's according to the Commerce Department. |
| 0:35.7 | The decline was mostly because aircraft orders fell, and those were volatile month to month. |
| 0:40.6 | Orders of computers and electrical equipment went up. |
| 0:44.0 | And Target says that sales fell almost 4.5% in the holiday quarter, compared to the third. |
| 0:49.0 | The company says it's planning to add 300 stores over the next decade and remodel his existing ones. |
| 0:57.0 | I'm Justin Koh with the marketplace minute. |
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