Monday's Bloomberg Market Report

By: Deborah Kostroun Email
By: Deborah Kostroun Email
  • DJ Industrials: Down 21.73 to 13,971.24
  • S&P 500: Down .92 to 1,517.01
  • NASDAQ: Down 1.87 to 3,192.00

Here are the headlines from Monday's Bloomberg Market Report.

While much of the job market remains on unstable ground, the IT industry is posting consistent growth. According to staffing firm Tech Serve Alliance, the IT sector added almost 16,000 jobs in January. That marks a four percent increase in the industry over the last year.

The effort to curb "too big to fail" banks gaining momentum in Washington. U.S. Representative John Campbell of California says he'll introduce a bill to reduce the size of massive financial institutions by forcing them to hold more capital, including long-term debt. The legislation is meant to protect taxpayers from additional bank bailouts.

It's shaping up to be a good year for farmers. According to the USDA, farm profits may rise to a record of more than $128 billion. The increase is due to crop insurance payments and inventories that were depleted by last summer's drought now being replenished.

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