Morning News Wednesday August 1st 2007
General News: Labor data points · Challenger layoffs were 42,897 in July vs. 37,718 a year ago. · July hiring intentions were 200,067. Government accounted for 193,329 of the increase. · July Hudson employment index was 105.8 vs. 101.2. This is strong. · ADP shows 48,000 jobs. 100K was expected. Breakdown: o Small business up 44,000 o Medium business up 17,000 o Large business down 13,000 o Goods sector down 41,000 o Service jobs up 89,000 o Manufacturing down 23,000 Asia/Europe: Asia: - Asian stocks slumped, extending a global equities rout, after Macquarie Bank Ltd. and Bear Stearns…