A16 6Monitor your investments
atwashingtonpost.com/markets
Daily Stock Market Performance Index
Dow Jones Industrial Average
11,500 11,000 10,500 10,000 9500
Nasdaq Composite Index
2640 2530 2420 2310 2200 2090
S&P 500 Index 1260
1200 1140 1080 1020
1223.75 +0.1 +9.7 2598.49 +0.1 +14.5
Daily Close % Chg
11,359.16 0.0
% Chg +8.9
YTD
Industry Group Building Products
S&P 500 Industry Group Snapshot Daily
Diversified Consumer Svcs Internet Software & Svcs Construction Materials Gas Utilities IT Services
Computers & Peripherals Internet & Catalog Retail Auto Components
Energy Equipment & Svcs
% Chg 3.25 1.98 1.82 1.47 1.35
–0.67 –0.67 –0.80 –1.09 –2.14
International Stock Markets Americas
Close
Brazil (Bovespa) Canada (S&P/TSX Comp.) Mexico (Bolsa) Europe
Eurozone (DJ Stoxx 600) France (CAC 40) Germany (DAX) U.K. (FTSE 100)
Asia Pacific D J F M A M J
Company 3M
Alcoa
AmExp AT&T BoA
Boeing
Caterpillar Chevron
Dow Jones 30 Industrials YTD
Close 84.19
14.15 44.78 28.54 11.57 66.23 90.35 86.30
Cisco Systems 19.39 Coca-Cola DuPont
64.14 48.96
Exxon Mobil 71.46 GE
Home Depot 33.55 HP
17.03 42.19
Daily % Chg
–3.1
% Chg 1.8
–0.6 –12.2 –0.5 0.8
10.5 1.8
–0.6 –23.2 –0.5 1.3 1.6
22.4 58.5 12.1
–0.2 –19.0 0.2 0.1 0.2 2.0 0.6
12.5 45.4 4.8
12.6 16.0
–1.5
Other Measures Index
–18.1 Close
DJ Total Stock Market Index 12,938.78 Russell 2000
764.42
Post-Bloomberg DC Area Index 206.68 CBOE Volatility (VIX)
17.99 J A S O N
Company IBM
Intel J&J
JPMorgCh Kraft Foods
Microsoft P&G Co Pfizer
Travelers Wal-Mart Walt Disney
Close 144.02
21.58 62.31 39.25 30.64
McDonald's 80.34 Merck
35.37 26.87 62.15 16.77 54.84
United Tech 78.54 Verizon
32.95 55.09 37.33
Daily % Chg 0.1 0.5 0.5
–0.2
Daily % Chg
–0.7 –0.6 0.2
–1.6 1.2 1.0 0.3 0.1 0.1
–0.2 –0.3 0.2 0.2 1.1
–0.6
% Chg 10.0
5.8
–3.3 –5.8 12.7 28.7 –3.2 –11.8 2.5
–7.8 10.0 13.2 6.4 3.1
15.8
Interest Rates Consumer Rates
YTD % Chg 12.5 22.2 10.3
–17.0
Money market funds 6-Month CDs 1-Year CDs 5-Year CDs New car loan Home-equity loan
0.71 0.79 0.96 2.03 5.35 7.09
0.30% 0.25% 3.25%
Bank Prime Federal Funds LIBOR 3-Month
3.06% 4.04% 4.67%
30-Year fixed mortgage 15-Year fixed mortgage 1-Year ARM
YTD
Australia (ASX 200) China (CSI 300) Hong Kong (Hang Seng) Japan (Nikkei)
4726.80 3200.34 23,428.15 10,141.10
Cross Currency Rates US $
EU €
US $ per EU € per
Japan ¥ per Britain £ per Brazil R$ per
Canada $ per Mexico $ per
0.7539 83.4900 110.7400
0.6343 0.8414 0.0076 1.6818 1.0119
12.4839 16.5591 0.1500
2.2342 0.0202 1.3423 0.0121
0.8 1.1
0.8 –0.3 Japan ¥
1.3264 0.0120 0.0090
Britain £
1.5766 0.5942 1.1886 0.4476
Brazil R$ Canada $ Mexico $ 0.9882 0.0801 0.7450 0.0604
131.6300 49.6080 82.5100 6.6880 0.3769
2.6534 1.5954 0.6012
0.6268 0.0508 1.6632 0.1347 0.0811
19.6820 7.4230 12.3369
69,337.64 13,250.67 37,880.13
273.91
3810.50 7001.91 5808.45
Daily % Chg
–0.3 –0.2 0.4
0.9 1.6 0.7 0.7
YTD % Chg –20%
–4.0% 0 +4.0%
Commodities Futures
Copper Corn
Crude Oil Gold
Natural Gas
Daily Close % Chg
$4.0440 $5.4725
+1.0 –1.2
$88.69 –0.8 $1,408.30 –0.5 $4.39
–2.1
Value of $1000 invested for the past: Exchange-Traded (Ticker)
Daily % Chg
0% +20%
Coffee (COFF.L) Copper (COPA.L) Corn (CORN.L) Cotton (COTN.L) Crude Oil (CRUD.L) Gasoline (UGAS.L) Gold (BULL.L)
Natural Gas (NGAS.L) Silver (SLVR.L)
Gainers Compellent Tech
0.3 1.8 0.3 0.7
–0.1 –0.2 –0.3 0.6 0.6
Gainers and Losers from the S&P 1500 Index Losers
Daily Close % Chg
$33.53 17.2
GreenMountainCoffee $37.72 7.3 SuperMicroComputer $11.76 7.3 Oxford Industries MarineMax
$28.21 $8.80
RF Micro Devices
WinnebagoIndustries $13.21 Barnes & Noble USA Mobility Inc Zoll Medical
MonolithicPowerSys Olympic Steel Oshkosh Corp
Digi International Hanger Orthopedic Steven Madden PEP Boys
Boyd Gaming
7.1 7.1
$7.85 6.6 6.0
$15.56 5.9 $18.82 5.8 $36.74 5.8 $18.26 5.6 $25.57 5.5 $34.15 5.4 $10.50 5.0 $20.96 4.8 $47.36 4.8 $13.57 4.7 $10.34 4.7
Heidrick&Struggles $25.62 4.6 AAON
$28.70 4.5
10-year note Yield:
5-year note Yield:
3.12 1.71
4:30 p.m. New York time.
SWS Group Lance Inc
Wintrust Financial Interactive Brokers AGL Resources
GreatAtla&PacTea Sourcefire Inc Patriot Coal
Coldwater Creek Cameron Intl Baker Hughes
Frontier Comm Corp
Daily Close % Chg
$4.12 –14.3 $20.59 –10.8 $29.35 –8.9 $17.42 –8.9 $34.98 –5.8 $3.14 –5.4 $26.45 –5.3 $17.33 –5.0 $3.06 –5.0 $48.65 –4.3 $53.18 –4.0 $9.11 –3.8
AmericanStatesWater $33.59 –3.7 Headwaters Inc Intuitive Surgical
$4.36 –3.5
UnitedCommunityBank $1.93 –3.5 iGate
$260.65 –3.5 $19.37 –3.3
NCI Inc Arch Coal Helix Energy Sol
2-year note Yield:
6-month bill Yield:
0.52 0.18
Note: Bank prime is from 10 major banks. Federal Funds rate is the market rate, which can vary from the federal target rate. LIBOR is the London Interbank Offered Rate. Consumer rates are from Bankrate. All figures as of
$22.09 –3.3 $32.35 –3.2 $13.14 –3.2
Treasury Performance Over Past Three Months
Orange Juice Silver
Soybeans Sugar Wheat
$800
EZ RE
KLMNO THE MARKETS Data and graphics by
Daily Close % Chg
$1.6070 $29.75
–2.3 +0.1
$12.8550 –0.2 $0.2841 $7.4300
–2.1 –1.2
day $1000
month $1200
WEDNESDAY, DECEMBER 8, 2010
Region’s jobless rate falls to 5.8 percent
D.C. area leads nation in job growth from October to October
BY V. DION HAYNES The unemployment rate in the
Washington region dropped to 5.8 percent in October from 6.3 percent a year ago, according to federal government data released Tuesday. Analysts credited the de- crease to a rebound in the retail and restaurant segments sparked by a growing willingness among consumers to spend money. The region also led the nation in the number of jobs added in a
12-month period, according to the Bureau of Labor Statistics. It was the second straight
month in which the unemploy- ment level dropped significantly in the Washington area. In Sep- tember, the region’s not seasonal- ly adjusted jobless rate fell to 5.9 percent, from 6.2 percent the year before, according to BLS data. From October 2009 to this Octo- ber, the region experienced a net gain of 43,700 jobs, according to Stephen S. Fuller, director of the Center for Regional Analysis at George Mason University. In the Dallas and Boston regions, which were tied for second place, a net 23,000 jobs were created, he said. Fuller attributed the job gains to two factors. The region is see-
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ing an influx of young people taking jobs in the federal govern- ment and contracting sector, boosting the economy by spend- ing money in restaurants and retail shops. At the same time, longtime residents are beginning to feel more confident and loos- ening their grip on their wallets. The demand is prompting restau- rants and retail shops to expand their payrolls. “We’ve hired more than a doz-
en people. [Next year] we’ll need about 100,” said Gus DiMillo, a partner in Passion FoodHospital- ity, which owns D.C. Coast, Ten- Penh, Ceiba, Acadiana and Pas- sionFish. The group opened a restaurant in Arlington this year and plans to open two more next year. “People were downsizing two
years
ago.Nowwe’re seeing a nice increase in activity,” DiMillo said. “Young people have moved into the area, and people who were already here are showing a lot more confidence. I’d call it cau- tious confidence.” Earlier this year, the region’s
unemployment rate remained high despite the large number of jobs being created in the federal government and contracting sec- tor—largely because people from outside the region, and not those on the jobless rolls, were filling those positions. But Fuller says that is less the case now. “Our job mix is very good, and,
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fortunately, a large part of our job growth is in jobs that unem- ployed workers were laid off from during the downturn,” he said. “We lost a lot of retail jobs. [The new positions] aren’t the Christ- mas holiday jobs — those are part-time — these are full-time regular workers.” The Washington region’s 5.8
percent jobless rate is well below thenation’s not seasonally adjust- ed 9 percent level in October. Unemployment in October fell in the majority of the country, in 235 of 372 metropolitan regions. Last week, the Labor Depart-
ment said the nation’s seasonally adjustedunemploymentrate rose inNovember to 9.8 percent, from 9.6 percent inOctober. InOctober 2009, the U.S. unemployment rate was at 10.2 percent. Several sectors in theWashing-
ton region grew at a faster rate from October to October than they did across the country. Lei- sure and hospitality grew 3.1 per- cent compared with 1 percent at the national level, according to the BLS. Government grew2 per- cent in this region, compared with a 1.1 percent decrease na- tionally. And retail grew 2.9 per- cent in the region, compared with 0.5 percent in the nation. Conversely, manufacturing
rose 0.5 percent nationwide and was down 4.1 percent in the re- gion. Information technologywas down 2.1 percent nationally and down 3.8 percent in the region. Still, Peter Muoio, senior prin-
cipal ofMaximus Advisors, aNew York-based economic and real es- tate research firm, saidWashing- ton and suburbanMaryland rank particularly high in job creation. “If you look at the past three
months, the District led the na- tion in the percentage job in- crease, and suburban Maryland was third among 52 largest mar- kets we look at each month,” Muoio said, adding that Virginia was ranked 25. “All three of the Washington area subpieces are very clearly doing very well.” The net 43,700 jobs added in
the region during the 12-month period ended in October includ- ed: 18,000 in business and profes- sional services; 13,000 in the fed- eral government; 9,000 in health and education; 10,000 in retail; and 8,000 in leisure and hospital- ity. The region lost a net of about 16,000 jobs in sectors including construction (down 5,000), infor- mation technology (down 3,000) and financial services (down 2,000). The region surrounding El
Centro, Calif., had the nation’s highest October-to-October un- employmentrate, at 29.3percent. Bismarck, N.D., had the lowest, 2.7 percent. Also on Tuesday, the Labor
Department announced that there was a jump in advertised job openings in the United States
inOctober.The Job Openings and Labor Turnover survey showed an increase of 3.4 million adver- tised jobs at the end of the month, upabout 12 percent from Septem- ber.
haynesd@washpost.com
3 drug firms to pay $421million to settle inflated-price claims
Justice Dept. alleges fraud involved
Medicare and Medicaid BY ALICIA A. CALDWELL
Three pharmaceutical manu-
facturers have agreed to paymore than $421 million to settle allega- tions that the companies report- ed inflated prices for numerous products, the Justice Department announced Tuesday. The government said the com-
panies knew that federal health- care programs relied on the in- flated prices to set payment rates. The Justice Department has recovered more than $1.8 billion from pharmaceutical companies arising from similar unlawful drug-pricing schemes, Assistant Attorney General Tony West told a news conference. In the latest settlements, Ab-
bott Laboratories agreed to pay $126.5 million; B. Braun Medical will pay just over $14.7 million and Roxane Laboratories agreed to pay $280 million. West said the three companies
inflated the “average wholesale price” for dozens of their prod- ucts, including powerful anti- biotics, used by Medicare and Medicaid patients. They reported these inflated prices to published national pricing lists used by the government to determine what it will pay doctors and druggists whoprovided those drugs to their Medicare and Medicaid patients, he said. By leading the government to
believe that the drugs sold at higher prices, West added, phar- maceutical companies gained market share by offering substan- tial profits to pharmacists and doctors who dispensed their drugs. The case against Abbott came
to light in 2006 when the Justice Departmentintervenedin awhis- tleblower lawsuit filed by a South Floridacompany under the feder-
al False Claims Act. The Justice Department sued Roxane, now formally known as Boehringer Ingelheim Roxane, in 2007. It is unclear when authorities started investigating B. Braun, aU.S. sub- sidiary of German pharmaceuti- cal company B. Braun Melsun- gen.
All three companies denied
wrongdoing and said they settled to end what each described as costly litigation with the federal government.
“We have complied with all laws and regulations and have entered into this agreement to eliminate the uncertainty associated with continued litigation.” —Adelle Infante, Abbott
“Thecompany at all timescom-
plied with laws, regulations and customary industry practices,” said AnnWainright, spokeswom- an for Roxane. Adelle Infante, spokeswoman
for Abbott, said, “We continue to believe that we have complied with all laws and regulations and have entered into this agreement to eliminate the uncertainty asso- ciated with continued litigation.” At B. Braun, spokeswoman Su-
san Denby said the company “complies with government laws and regulations and operates un- der a robust compliance program to ensure continual compliance.” —Associated Press
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