- Joined
- 5/5/06
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Stocks sold off again today. Market continues to be very volatile. All major indexes are losing weeks gain and plunging into negative terretory. This time ... it is employment data. "Any news is bad" for the markets at this time of the year.
"It's a major shock to the market," said Peter Cardillo, chief market strategist at Avalon Partners. "If the job market continues to weaken, fears of a recession will continue to accelerate, calling into question corporate earnings."
Dow Jones is near at 13100 levels down by 250 points from morning.
S&P is near 1450 down by 30 points from morning
Volume at the New York Stock Exchange hit 1.2 billion shares, with declining stocks ahead of advancers more than 3 to 1. At the Nasdaq, nearly 1.6 billion shares were traded, with decliners beating advancers by a 4 to 1 ratio.
The Labor Department said early Friday that U.S. nonfarm payrolls fell an estimated 4,000 in August, while the unemployment rate held steady at 4.6% as fewer people were deemed to be seeking jobs
Well if you pick any speculator on wall street at any random point and ask "What should FED do?" . "Rate Cut" is a very very probable answer. Currently markets are opiniated on rate cut of 25-50bp after the weak employment numbers.
Lets wait how the FEDs will react.. but it has to be soon.
Any thoughts are welcome...
"It's a major shock to the market," said Peter Cardillo, chief market strategist at Avalon Partners. "If the job market continues to weaken, fears of a recession will continue to accelerate, calling into question corporate earnings."
Dow Jones is near at 13100 levels down by 250 points from morning.
S&P is near 1450 down by 30 points from morning
Volume at the New York Stock Exchange hit 1.2 billion shares, with declining stocks ahead of advancers more than 3 to 1. At the Nasdaq, nearly 1.6 billion shares were traded, with decliners beating advancers by a 4 to 1 ratio.
The Labor Department said early Friday that U.S. nonfarm payrolls fell an estimated 4,000 in August, while the unemployment rate held steady at 4.6% as fewer people were deemed to be seeking jobs
Well if you pick any speculator on wall street at any random point and ask "What should FED do?" . "Rate Cut" is a very very probable answer. Currently markets are opiniated on rate cut of 25-50bp after the weak employment numbers.
Lets wait how the FEDs will react.. but it has to be soon.
Any thoughts are welcome...