Price-to-earnings ratios sink to historic lows, could fall more

Date: Fri, 06 Mar 2009 17:01:48 -0500

Price-to-earnings ratios sink to historic lows, could fall more

Price-to-earnings ratios, a popular measure of how expensive stocks
are by historical standards, have surpassed lows seen in recent
recessions. But that's no guarantee they won't sink further.

ECONOMIC REPORT: PAYROLLS FALL 651,000 AND JOBLESS RATE SOARS TO 8.1%

The weakness in U.S. labor markets has gathered extraordinary
momentum, wiping away millions of jobs over the past four months
alone, the Labor Department reports.

TELECOM REPORT: AT&T SEEN AS SAFE VESSEL IN WHICH TO RIDE OUT ECONOMIC STORM

As waves of bad corporate and economic news sink values of one
blue-chip company after another, among the few that continue to steam
ahead is AT&T Inc.

MACY'S UPGRADED BY GOLDMAN SACHS, MERRILL LYNCH

The department-store operator is upgraded by both Goldman Sachs and
Bank of America/Merrill Lynch, following the company's moves to
control costs, cut capital spending and expand its My Macy's
localization initiative to stoke demand.