The National Economy
The U. S. Labor Department announced that the job market grew at a healthy pace for two months in March and April of this year, with increases in manufacturing and nearly every major industry. (The Denver Post, May 8, 2004).
The Federal Reserve Board continued to hold its key interest rate at a 46-year low, but continues to indicate that they will consider raising rates in order to stave off inflation. (The Denver Post, May 5, 2004). Consquently, interest rate concerns pushed the Dow Jones industrial average below 10,000 for the first time since last December, while the other three major indices dropped to their lowest levels for the year. (The Denver Post, May 11, 2004). Later in the month, the markets dropped upon further bad news in Iraq: the assassination of the governing council. (The Denver Post, May 18, 2004). At month's end, the markets rose, fueled by a positive report on consumer confidence. (The Denver Post, May 26, 2004).
Colorado Economy
The Denver Metro area appears to be inching upward in terms of increases in stock and manufacturing activity, as well as a drop in unemployment. Employment increases are in the natural resources, financial services, education, and health services areas. (The Denver Post, May 15, 2004). Colorado added 14,500 new jobs in April--the second fastest growth rate in the nation. The growth was in seven of the state's 11 major industries. (The Denver Post, May 22, 2004).
Regional Stock Performance: Largest Percentage Gainers over last Two Weeks
