Wall Street went to work Thursday after two consecutive triple digit gains. But Thursday the Labor Department revealed the number of people filing first time claims for jobless benefits rose by 44,000 last week. That report plus some profit taking did a number on the market.
The Dow ended the trading day down 205.67 points to close at 11,378. The Nasdaq closed up 4.17 points at 2,325.
Unless you own stock in this company, you may find this next story objectionable and want to turn away from your television set for a moment. Exxon Mobil reported second quarter earnings of $11.6-billion, the largest quarterly profit ever by a U.S. corporation.
However, and this is amazing part, the company's results fell well short of Wall Street's forecast. Analysts had been expecting that record crude prices would push earnings higher.
Remember the $11-billion figure is only for the second quarter; projected out it means more than $40-billion profit this year for Exxon Mobil.
One Louisville Company is already teeing it up for the Ryder Cup. Louisville Stoneware is creating two special pieces to be sold exclusively at the Ryder Cup in September.
A 13 inch charger plate will carry the official Ryder Cup logo in a design created by Louisville Stoneware, along with 14 ounce mugs.
The Louisville pottery company had worked with the PGA several years ago when the Senior Tour Championship was held at Valhalla. When the Ryder Cup chose Louisville for this year's event, Louisville Stoneware made its sales pitch. "We contacted them and we were persistent in letting them know Louisville Stoneware is a 200 year tradition here and a local flavor would be a nice touch to the Ryder Cup and they agreed so we've been in the works about six months now and we're finally into production with some final product that will be on at Valhalla the on site merchandizing tent for PGA the week of the Ryder Cup," said Lisa Mullins with Louisville Stoneware.
The Ryder Cup pieces will be available only at Valhalla during the week of the tournament. However corporations can order the pieces for clients through Louisville Stoneware for pick up at the tournament.
Ryder Cup week is September 16 through the 21st.
At a time when many businesses are closing their doors, the second largest home improvement retailer in the world is opening its doors in Shepherdsville.
Mayor Sherman Tinnell participated in the board cutting to open Lowe's $19-million store. The store has 117,000 square feet of retail space and brings 175 new jobs to the community.
The store had its soft opening last Monday. Henson says customers have been increasing every day since.