Wake-up call
Posted 06:55 a.m., May 6, 2008
World stock markets were mixed overnight, with Asian indexes rising on strength in mining and other natural resources shares, while European markets lost ground after Swiss bank UBS reported a massive first-quarter loss and a plan to cut 5,500 jobs. Crude oil continued to climb after Monday’s record high in U.S. trading as the political impasse with Iran and unrest in Nigeria sparked worries about supply. The dollar was lower and gold was higher.
The average price of a gallon of gasoline locally was slightly lower again at $3.473, according to AAA’s Fuel Gauge Report. It was $3.476 yesterday, $3.184 a month ago and $2.806 on this date last year.
No major economic reports are scheduled today. Look for the quarterly report on labor productivity and costs on Wednesday, considered by some observers a key indicator of inflationary pressures. Consensus forecast for productivity (worker output per hour): up 1.7 percent, less than the 1.9 percent rate in the fourth quarter of 2007. Forecast for unit labor cost: up 2.6 percent, the same as the fourth quarter.
Local meetings and events:
The USC Small Business Development Center holds a workshop on Government Contracts for Your Business: Getting Started. 9-11 a.m. 5900 Core Drive, Suite 104, North Charleston. $30. For information or registration call 740-6160 or visit http://mooreschool.sc.edu/moore/use-sbdc/seminars.
The College of Charleston holds an informational meeting of its new Urban and Regional Planning Graduate Certificate program. Speaker: Ron Mitchum, Berkeley-Charleston-Dorchester Council of Governments. 6 p.m. Lowcountry Graduate Center. For information call 953-4723.
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