Posted on 02/05/2016 11:48:24 AM PST by John W
NEW YORK (AP) - Stocks were solidly lower in mid-afternoon trading Friday after a report showed that U.S. job creation slowed last month.
Investors sold energy and consumer discretionary stocks as oil prices declined and investors continued to worry that the risk of the U.S. economy slipping into recession, while low, is growing. Technology stocks were also taking a beating.
(Excerpt) Read more at finance.yahoo.com ...
usually dont see the word Solid with a move lower.
yeah, i knew the report would be bad so i stayed long the Eur/USD as it has been on a roll, but surprisingly, and as usual, if that makes sense, it fell on the news.
falling job numbers = less chance of interest rate hike = less attractive dollar,
I expect the rally to return again next week and this year as the start of the death of the dollar after a 8 year run.
Down 262.84(1.60%) 3:00PM EST
but but but, Ohole was out their today championing his great work which got the unemployment rate to 4.9%!
Maybe it's just me, but the markets sure have that "2007 feel" to them...a little more controlled fashion, but the 200-day trend has been positively down.
My Short vertical call spreads on the SPY are doing just fine. :-)
RE: following weak jobs report
Yep, and the unemployment rate went DOWN from 5.% to 4.9% ! Go figure.
“...the risk of the U.S. economy slipping into recession...”
How can it “slip” into a recession it never got out of in 2009?
LinkedIn - which is essentially a business oriented FaceBook for highly paid professionals - dropped more than 50% at one point today, a loss of $14 billion in market cap! LNKD is 90% owned by institutional money managers, so that indicates panic on Wall Street, not Main Street.
Netflix was down 8% near the close, and it is down almost 30% since January 1st.
I Heart Radio (Former Clear Channel) who owns over 2000 radio stations is $20 BILLION dollars in debt. No wonder they have laid off most local personalities.
As opposed to stocks move solidly lower after a strong jobs report (because everybody’s now worried about inflation) - stock traders are a bunch of sheep....
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