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

[odanny]

I think the entire market is due for a "correction", but what precipitates this is hard to predict.

 

[Harpy Eagle]

I think the entire market is due for a "correction", but what precipitates this is hard to predict.

Other than maybe a few "can't miss" bargains the other good thing about these dips is your money is now able to buy more shares, so when the market comes back you are even better off.

 

[Captain Caveman]

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%).

Bidennomics?

 

[marvin martian]

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?

You need to do the world a favor. Today.

 

[skews13]

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%).

You can expect that 25 basis point cut, at least, if not 50, in September now, politics be damned.

July is typically a slow hiring month anyway, because of vacations, and still 114,000 jobs were added. Don't read to much into that now.

Amazons numbers are a big tell. which confirms people on vacation, not at home ordering online. I would expect that to pick up during the fall holiday season, along with hiring for holiday sales orders with the usual companies.

The vacation spots are getting the dollars right now, so there is no drop in consumerism, with wages outpacing inflation.

With this drop, there will be plenty of buying next week. Consumer products will lead the way, as they usually do when the fall shopping picks up.

 

[1srelluc]

10-year Treasury yield dives to the lowest since December after weak jobs report​

MSN

The 10-year U.S. Treasury yield dropped to its lowest since December after a weaker-than-expected jobs report for last month added to fears that economic growth is slowing.

The yield on the benchmark 10-year Treasury was last at 3.853%, down 12 basis points, or 0.12%. Earlier, yields hit a low of 3.79%, the lowest level since December 2023.


The 2-year Treasury yield was last at 3.966% after dropping more than 19 basis points.

Yields and prices have an inverted relationship and one basis point equals 0.01%, or one one-hundredth of a percent.

Treasury yields tumbled after the July nonfarm payrolls report showed an increase of 114,000 jobs last month, far less than expected the 185,000 that economists had expected, according to the last survey by Dow Jones. Meanwhile, the unemployment rate rose to 4.3%, the highest in nearly three years, since October 2021.

Glad I locked in a couple 9-month 5.20% CDs. Short term CD rates are dropping like a fuckin' rock though one year or better are still holding on a bit.

 

[1srelluc]

Bidennomics?

Yep, they own it.

 

[skews13]

I think the entire market is due for a "correction", but what precipitates this is hard to predict.

The tech sector is. All one needs to do is look back from January. Stocks have overvalued, but has been ignored due to consumer confidence. Every holiday going into the spring and summer saw record spending, as well as record travel.

People that have full time jobs are doing just fine, and spending money no matter what inflation prices are, which are due to gouging, not supply chain issues.

The ones complaining about inflation are retirees on fixed incomes, young people in low wage jobs, and people who only work part time, and those with side gigs, which isn't a job, but the lazy way out of not having to answer an alarm clock, get their trifling asses out of bed, and go to work.

Those would be the jobs immigrants are taking away, and employers are happy to give to.

 

[JGalt]

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%).

"Best economy ever!" the Bidenistas were saying.

 

[Lisa558]

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.

Their only hope is that ignorant, gullible buyers will fall for it. And given that half the voters think the answer to their prayers is the Cackling Airhead - whom only a couple of months ago was viewed as such a drag on the ticket they were looking for ways to dump her ass without being called racist.

American has been so dumbed down I’m in shock,

 

[Harpy Eagle]

"Best economy ever!" the Bidenistas were saying.

Best economy ever is a subjective thing based upon the view of the one you are asking.

For me and mine, it is for sure the best economy ever...but then again I do not shit my pants every time the market goes down like you seem to

 

[Donald H]

Here's an exaggerated analysis of the jobs situation.

The president takes credit for adding 200,000 new jobs that pay minimum wage to immigrants and their children.
And he eliminates 100,000 union jobs.

Net gain: 100,000 new jobs, for which his popularity benefits!

Don't ask how that's exaggerated. That would just turn the entire discussion into a commie plot.

 

[Cellblock2429]

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

/—-/ Bidenomics is a total disaster. Fear not, Trump to the rescue.

 

[Harpy Eagle]

/—-/ Bidenomics is a total disaster. Fear not, Trump to the rescue.

sorry that your life is sucking so much that you have to rely on the resident of the white house to make it better.

have you ever thought about taking responsibility and not relying on the Govt to save you?

 

[Cellblock2429]

sorry that your life is sucking so much that you have to rely on the resident of the white house to make it better.

have you ever thought about taking responsibility and not relying on the Govt to save you?

/—-/ My life doesn’t suck. I’m doing fine. I’m responding to libs who try to blame Republicans when democRATs run the Senate and White House. It’s Joe’s economy.

 

[Harpy Eagle]

/—-/ My life doesn’t suck. I’m doing fine. I’m responding to libs who try to blame Republicans when democRATs run the Senate and White House. It’s Joe’s economy.

sure, sure....

 

[rightwinger]

Market is up 11.7% this year

Thanks Joe Biden!

 

[jotathought]

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

So your answer is to be wrong on the economy and unemployment metrics? Gotcha.

 

[rightwinger]

So your answer is to be wrong on the economy and unemployment metrics? Gotcha.

?

 

[jotathought]

Their only hope is that ignorant, gullible buyers will fall for it. And given that half the voters think the answer to their prayers is the Cackling Airhead - whom only a couple of months ago was viewed as such a drag on the ticket they were looking for ways to dump her ass without being called racist.

American has been so dumbed down I’m in shock,

When the constituency knows more about sports and pop culture, it's easy to understand why low-information voters would take it as truth without context. Mindless little sheep.