Dollar up, gold mixed in European trading
Unemployment up statewide, down here
Encyclopedia of Appalachia wins award
KEDB regular meeting set for Tuesday
Wall Street finishes narrowly mixed
NEW YORK - Stocks rose, dropped and then recovered Friday - just as they did over the course of the first quarter, as Wall Street showed nervousness about rising inflation and dollar weakness but took solace in resilient consumer spending and slow economic growth. The Dow Jones industrials finished the day 5 points higher, and ended the quarter down 108 points, or 0.87 percent, the index's feeblest performance since the second quarter of 2005. The Dow rose 5.60 points, or 0.05 percent, to 12,354.35, after rising 67 points and falling 106 earlier in the session. The index is more than 300 points above its levels in early March. Broader stock indicators were mixed. The Standard & Poor's 500 index lost 1.67, or 0.12 percent, to 1,420.86, and the technology-dominated Nasdaq composite index rose 3.76, or 0.16 percent, to 2,421.64.
LONDON - The U.S. dollar traded higher against most other major currencies in European trading Friday. Gold prices were mixed. The euro traded at $1.3305, down from $1.3336 late Thursday. Later, in midday trading in New York, the euro fetched $1.3387. Other dollar rates in Europe, compared with late Thursday, included 118.27 Japanese yen, up from 117.84; 1.2217 Swiss francs, up from 1.2173; and 1.1522 Canadian dollars, down from 1.1583. The British pound traded at $1.9593, down from $1.9631. In midday New York trading, the dollar bought 117.46 yen and 1.2096 Swiss francs, while the pound was worth $1.9702. Gold traded in London at $658.70 per troy ounce, unchanged from late Thursday.
NASHVILLE - Tennessee's seasonally adjusted unemployment rate for February was 4.9 percent versus the January rate of 4.8 percent, according to the Tennessee Department of Labor and Workforce Development. However, for the Tri-Cities Combined Statistical Area it was down from 4.9 percent to 4.8 percent. The Kingsport-Bristol, Tenn.-Va. Metropolitan Statistical Area (MSA) decreased from 4.9 percent to 4.8 percent, while the Johnson City MSA went down from 5 percent to 4.9 percent. County non-seasonally adjusted unemployment rates for February showed that 28 counties increased, 56 counties decreased, and 11 remain unchanged. Nationwide, the U.S. unemployment rate for February was 4.5 percent.
JOHNSON CITY - The Encyclopedia of Appalachia, a joint project of the East Tennessee State University Center for Appalachian Studies and Services and the University of Tennessee Press, won the prestigious Weatherford Award at the 30th annual Appalachian Studies Association Conference hosted this past weekend by Maryville College. The most all-encompassing work on Appalachia ever produced serves as a primary resource for teachers, scholars and the general public as it comprehensively spans the region's history, land, people and cultures, according to a news release from ETSU. The encyclopedia contains more than 2,000 entries in 30 sections, has 1,864 pages featuring more than 300 illustrations, and covers the 13 states that make up the northern, central and southern subregions of Appalachia stretching from New York to Mississippi. The Appalachian Studies Association and Berea (Ky.) College present the Weatherford Award to honor one fiction work and one nonfiction work that "best illuminate the challenges, personalities and unique qualities of the Appalachian South."
KINGSPORT - The Kingsport Economic Development Board will hold its regular monthly meeting 10 a.m. Tuesday in the boardroom of the Kingsport Chamber of Commerce, 151 E. Main St.