Posted on 02/05/2010 10:39:24 AM PST by Signalman
NEW YORK (CNNMoney.com) -- Stocks weakened early Friday afternoon as investors weighed a growing debt crisis in Europe with a report that showed more U.S. job losses despite a lower unemployment rate.
The Dow Jones industrial average (INDU) lost 42 points, or 0.4%, almost three hours into the session, which puts the index at 9,920. The S&P 500 index (SPX) lost 5 points, or 0.5%, and the Nasdaq composite (COMP) was little changed.
"The employment report was a mixed bag overall, but the market is more focused on what is happening globally," said David Rosenberg, chief economist at Gluskin Sheff & Associates.
He said that with the heightened concerns over sovereign debt, risk premiums go up and the outlook for the economy and stock market gets cloudier.
(Excerpt) Read more at money.cnn.com ...
Wow, the market is taking an even steeper swan dive right now than Obama’s approval ratings.
How funny, everytime I consider sticking a toe into the Casino on Wall and Broad to buy some nice, safe, and boring Utility Stock, the market corrects downwards.
The amount of rise in the stock market was not parallel to the profits that are being made, a correction was bound to happen.
Obama Corpse-man in Chiefs fault.
How can the stock market be down? Hasn’t the market heard that Dear Leader and Pelosi have told us unemployment is down and there is proof their scamulus plan is working?
the only thing that scares them worse than high unemployment is the realization that they can no longer trust any numbers coming out of this government
You mean to tell me that these people don’t trust the government? Well I can’t believe it!
But Pelosi said.....
“dips?”
Yeah...it’s a slight downturn. /s
Yeah...it’s a slight downturn. /s
My prediction in post 9 was wrong. I am glad though. What a comeback. I was surprised.
My prediction in post 9 was wrong. I am glad though. What a comeback. I was surprised.
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