Skip to comments.Stocks tumble after weak jobs report (DJIA down 150 pts.)
Posted on 05/04/2012 8:48:58 AM PDT by Signalman
NEW YORK (CNNMoney) -- U.S. stocks fell Friday after a government report showed that employers added fewer than expected jobs in April.
Dow Jones industrial average (INDU) was down 114 points, or 0.8%, in morning trading. The S&P 500 (SPX) fell 15 points, or 1%, and the Nasdaq (COMP) fell 53 points, or 1.5%.
The jobs report showed a net gain of 115,000 jobs, far less than the 160,000 forecast by economists surveyed by CNNMoney. However, upward revisions to the February and March jobs figures and a drop in the unemployment rate to 8.1% may temper some of investors' disappointment in the report.
"The labor market data confirms that the economy gained little momentum over the past six to nine months," said Steven Ricchiuto, chief economist at Mizuho USA.
While the gain in payrolls was disappointing, he noted that the number of hours worked increased in April and the jobless rate fell. These developments "confirm that the economy is not in the process of stalling," said Ricchiuto.
As the economy slows, investors have been anticipating more action from the Federal Reserve. In particular, some investors expect the central bank to launch a third round of bond purchases, a policy known as quantitative easing.
(Excerpt) Read more at money.cnn.com ...
Investors are voting on the jobs report with their feet!
But...but...we are in the middle of a recovery!
God, why do we let government and the MSM get away with it?
Unexpected job numbers my @§§!!!!!!!
Can someone say Pump and Dump
Nothing worth buying yet. Keep your eye on your watch list, bargains may eventually appear.
Dow Jones industrial average (INDU) was down...
The jobs report showed a net gain of 115,000 jobs, far less than the 160,000 forecast...
While the gain in payrolls was disappointing,...
As the economy slows, investors have been anticipating...
Whew, thank God we are recovering!
The good news is that oil is dropping like a rock too. I knew it wouldn’t be long. Now at $98 and change.
Bad news = more Quantitative Easing coming, so the stock market ‘should’ be rising...
from what I ve seen since Obama’s immaculation!
I think between now and the election ( especially during the summer) you will see lots more three digit sell-offs on Fridays. People won’t want to be long over the weekend..
The PPT will be working overtime.
I’ve been overweight on Virnetx (VHC) for well over a year..and it is up. Worth a look. It may be the last stock I ever invest in due to the crooked market I’ve been in for the last 10 years or more....but it is a gem.
Laissez le bon temps rouler!
We'll be at -3.2% unemployment by late October; the bad news is that the Dow will be at 5200...
I’m pretty sure unemployment is going to reach zero sometime soon - right around the time that the workforce and DOW volume reach zero as well.
Not my type of stock - where are the earnings and dividends?
I like to get 4% a year on my portfolio.
Right now I am looking at: Staples, Vale, Vodafone. They all need to go down a little more.
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