The Dow takes a dump....Down -900+ On Jobs report

[1srelluc]

MSN

Stocks slid Friday as a disappointing jobs report added to fears that the US economy is weakening.

The Dow fell 857 points, or 2.1%, Friday morning. The S&P 500 lost 2.5% and the Nasdaq Composite declined 3%.

That puts the Nasdaq in correction territory, or more than 10% off its most recent high on July 10.


CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, fell to a “fear” reading of 26.

The US economy added just 114,000 jobs in July, according to Bureau of Labor Statistics data released Friday. That’s far below economists’ estimates of 175,000 jobs added. The unemployment rate surged to 4.3% from 4.1%, above expectations for it to stay steady.

That comes a day after stocks sold off sharply on soft economic news. Data Thursday revealed that first-time applications for jobless benefits rose last week to its highest tally since last August, while the number of claims filed by people who have received unemployment benefits for at least a week jumped to its highest level since November 2021.

I don't expect much bargain taking due to it being Friday.

Nobody wants to buy into a black hole when goodness knows what will happen over the weekend.

Currently down 942 (2.4%).

 

[sealybobo]

MSN

Stocks slid Friday as a disappointing jobs report added to fears that the US economy is weakening.

The Dow fell 857 points, or 2.1%, Friday morning. The S&P 500 lost 2.5% and the Nasdaq Composite declined 3%.

That puts the Nasdaq in correction territory, or more than 10% off its most recent high on July 10.


CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, fell to a “fear” reading of 26.

The US economy added just 114,000 jobs in July, according to Bureau of Labor Statistics data released Friday. That’s far below economists’ estimates of 175,000 jobs added. The unemployment rate surged to 4.3% from 4.1%, above expectations for it to stay steady.

That comes a day after stocks sold off sharply on soft economic news. Data Thursday revealed that first-time applications for jobless benefits rose last week to its highest tally since last August, while the number of claims filed by people who have received unemployment benefits for at least a week jumped to its highest level since November 2021.

Hey, we're still adding jobs. That's a good thing.

What would Republicans say if Trump were president right now? They'd say now is the time to buy more stocks! Buy low, sell high.

Notice Biden's low won't be that low and his recovery will be quick.

Plus it's less than 100 days before the election. Companies are holding their breath. Gas Cars or EV's?

 

[1srelluc]

Hey, we're still adding jobs. That's a good thing.

What would Republicans say if Trump were president right now? They'd say now is the time to buy more stocks! Buy low, sell high.

Notice Biden's low won't be that low and his recovery will be quick.

Plus it's less than 100 days before the election. Companies are holding their breath. Gas Cars or EV's?

What, more projection from a leftist?....Color me not surprised....The Biden/Harris economy is the one shitting the bed today, not a trump economy.

LOL....Remind me never to look to you for economic advice.

 

[rightwinger]

Stock Markets do that
They overreact to economic news
It will correct itself

 

[Blaster]

The stockmarket will take a big hit under Democrats.

 

[rightwinger]

What, more projection from a leftist?....Color me not surprised....The Biden/Harris economy is the one shitting the bed today, not a trump economy.

Shitting the bed is losing 30 million jobs like Trump did

 

[rightwinger]

The stockmarket will take a big hit under Democrats.

You guys always say that but the Market does better under Democrats
Democratic Presidents are also the only ones to create JOBS

 

[Lisa558]

The stockmarket will take a big hit under Democrats.

If Trump wins, it will soar in relief.

So what’s the play now? I like to buy the dips, but I don’t think this is over. In ‘87, we had a bad Friday, only to be even worse the beginning of the next week.

Normally I’d say some buy opportunities by mid-week, but the prospect of having a big-spending socialist in office, who is simultaneously going to raise corporate rates, has me reluctant to do so.

 

[1srelluc]

If Trump wins, it will soar in relief.

So what’s the play now? I like to buy the dips, but I don’t think this is over. In ‘87, we had a bad Friday, only to be even worse the beginning of the next week.

Normally I’d say some buy opportunities by mid-week, but the prospect of having a big-spending socialist in office, who is simultaneously going to raise corporate rates, has me reluctant to do so.

It's called a Friday Black Hole.

 

[Natural Citizen]

I don't think the majority of Americans understand what ''the economy'' actually means.

Anyway. I haven't in my adult lifetime witnessed an administration that hasn't printed away your purchasing power.

 

[Synthaholic]

When you have created so many jobs, and the United States is at near full employment, of course new job numbers are going to be less.

 

[jotathought]

Shitting the bed is losing 30 million jobs like Trump did

During a pandemic when primarily Democratic leadership shutdown the economy. Dems really need to stop using this overused line (as well as post pandemic job growth) as a ruse.

 

[Synthaholic]

Stock Markets do that
They overreact to economic news
It will correct itself

This is another buying opportunity. These rich fucks aren't stupid. They force these stocks down, then buy them cheap for the resurgence. Larry Kudlow explained all this a few years ago during covid.

 

[Harpy Eagle]

MSN

Stocks slid Friday as a disappointing jobs report added to fears that the US economy is weakening.

The Dow fell 857 points, or 2.1%, Friday morning. The S&P 500 lost 2.5% and the Nasdaq Composite declined 3%.

That puts the Nasdaq in correction territory, or more than 10% off its most recent high on July 10.


CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, fell to a “fear” reading of 26.

The US economy added just 114,000 jobs in July, according to Bureau of Labor Statistics data released Friday. That’s far below economists’ estimates of 175,000 jobs added. The unemployment rate surged to 4.3% from 4.1%, above expectations for it to stay steady.

That comes a day after stocks sold off sharply on soft economic news. Data Thursday revealed that first-time applications for jobless benefits rose last week to its highest tally since last August, while the number of claims filed by people who have received unemployment benefits for at least a week jumped to its highest level since November 2021.

I don't expect much bargain taking due to it being Friday.

Nobody wants to buy into a black hole when goodness knows what will happen over the weekend.

Currently down 942 (2.4%).

crazy how you never once make a post when the stocks do well.

it is almost as if you are nothing but a mindless partisan drone

 

[KissMy]

What, more projection from a leftist?....Color me not surprised....The Biden/Harris economy is the one shitting the bed today, not a trump economy.

LOL....Remind me never to look to you for economic advice.

You idiot, Republican economies almost always end in disaster & record job loss. Biden is still adding jobs causing you to shit the bed.

 

[1srelluc]

You idiot, Republican economies almost always end in disaster & record job loss. Biden is still adding jobs causing you to shit the bed.

FOAD

 

[1srelluc]

crazy how you never once make a post when the stocks do well.

it is almost as if you are nothing but a mindless partisan drone

"Weird" isn't it?

 

[rightwinger]

During a pandemic when primarily Democratic leadership shutdown the economy. Dems really need to stop using this overused line (as well as post pandemic job growth) as a ruse.

Trump can’t take credit for low gas prices and inflation caused by COVID and then be excused for his loss of jobs

 

[odanny]

That's two days in a row, lost 450 points yesterday.

I aint skeered.

 

[Harpy Eagle]

That's two days in a row, lost 450 points yesterday.

I aint skeered.

It was due. I am just glad it got as high as it did before this took place.

Slow and steady is the way to invest.