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

[Cellblock2429]

So Carter didn't suck it was the Speaker and Senate Majority leader? It wasn't Reagan who rocked it was his Congress? Bush didn't suck it was his Congress? Bill sucked it was all Newt? Bush didn't lie us into Iraq and squander Clinton's surplus with tax breaks?

Trump didn't pay historic tax breaks we can't afford?

Biden passed a great infrastructure bill. You are right. The Republicans need to make Amazon pay their fair share of taxes. They tear up our roads the most.

/----/ You are absolutely correct. No president can control spending. Reagan wanted the line item veto like so many governors have, but the liberal USSC smacked it down

 

[Harpy Eagle]

/----/ Only Congress can spend the money. The president can only make recommendations.
Are you new to Civics?

How much money is spent without the signature of approval from the POTUS?

 

[1srelluc]

So I'm wrong, 2 Republicans who at the time weren't drinking Trump's coolaid are wrong and Bill Maher are all wrong.

So Trump didn't add what Ron said he added to the debt? And the stimulus' didn't start with Trump insisting his name be on the checks? Okay, weirdo

You spelt Kool-Aid wrong.....How can I take someone seriously that can't even spell Kool-Aid correctly?

 

[odanny]

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.

This is true if you have some of your investments in a money market, you can access cash. It made a lot of people a lot of money during Covid, there were bargains galore.

 

[Weatherman2020]

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%).

LETS GO BRANDON!

 

[Dekster]

1 local manufacturing plant is laying off people and another has furloughed several hundred people recently for short terms. I am not really shocked so much as I am shocked it has taken this long for people to see this coming.

My gut instinct is that the Biden Administration has been cooking the books for awhile anyway.

 

[Captain Caveman]

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

Eh, you're happy with all time expensive products and services?

 

[Harpy Eagle]

1 local manufacturing plant is laying off people and another has furloughed several hundred people recently for short terms.

 

[sealybobo]

/----/ You are absolutely correct. No president can control spending. Reagan wanted the line item veto like so many governors have, but the liberal USSC smacked it down

Don’t worry the supremes just gave presidents a lot more power. King like

 

[Cellblock2429]

Don’t worry the supremes just gave presidents a lot more power. King like

/—-/ Thank Dementia Joe. This was never as issue for 248 years until your side went after a former president.

 

[skews13]

/----/ You are absolutely correct. No president can control spending. Reagan wanted the line item veto like so many governors have, but the liberal USSC smacked it down

The Constitution only gives Congress the power to spend money. That's why it was struck down. The Constitution gives the president very limited powers for a reason, and we need a SCOTUS that will uphold that, and take away what conservative courts have given the office.

 

[sealybobo]

/—-/ Thank Dementia Joe. This was never as issue for 248 years until your side went after a former president.

Trump crossed the line constantly. He pushed it. And the supremes sided with him. Will they when Kamala crosses the line or will they see it different?

And trump started this. First he said Nancy should have impeached bush for lying us into iraq, then said lock her up.

 

[Nobody911]

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%).

The Dow Jones Industrial Average (DJIA) can be considered an economic indicator because it is one of the most widely-followed stock market indexes in the world and is used to gauge the overall health and performance of the U.S. stock market.

The DJIA is composed of 30 large, publicly traded companies that are considered to be representative of the U.S. economy across various industries. Changes in the Dow index can reflect shifts in investor sentiment, market trends, and overall economic conditions.

For example, if the Dow index is consistently increasing over a period of time, it may indicate a bullish market sentiment and positive economic outlook. Conversely, a decline in the Dow index could signal concerns about the economy or market volatility.

While the Dow index is not a comprehensive economic indicator on its own, it is often used in conjunction with other indicators such as GDP growth, unemployment rates, and consumer spending to provide a more complete picture of the economy.

Recession? I don't think so.

●●●America's GDP Growth in the Last 2 Quarters●●●

In the first quarter of 2024, the GDP of the United States grew by 1.4 percent over the previous quarter. In the second quarter of 2024, the GDP expanded by 2.80 percent compared to the previous quarter.

These figures indicate a positive growth trend in the U.S. economy over the last two quarters.

Based on the recent GDP growth rates, it is accurate to say that the United States has not entered a recession. The GDP of the United States grew by 1.4 percent in the first quarter of 2024 and by 2.80 percent in the second quarter of 2024, indicating a positive growth trend in the U.S. economy.

Sources:

Gross Domestic Product | U.S. Bureau of Economic Analysis (BEA)

www.bea.gov

U.S. Economy at a Glance | U.S. Bureau of Economic Analysis (BEA)

Perspective from the BEA Accounts BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people, and individuals. These statistics provide a comprehensive, up-to-date picture of the U.S. economy. The data on this page are...

www.bea.gov

United States GDP Growth Rate

The Gross Domestic Product (GDP) in the United States expanded 2.80 percent in the second quarter of 2024 over the previous quarter. This page provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and...

tradingeconomics.com

 

[Cellblock2429]

The Dow Jones Industrial Average (DJIA) can be considered an economic indicator because it is one of the most widely-followed stock market indexes in the world and is used to gauge the overall health and performance of the U.S. stock market.

The DJIA is composed of 30 large, publicly traded companies that are considered to be representative of the U.S. economy across various industries. Changes in the Dow index can reflect shifts in investor sentiment, market trends, and overall economic conditions.

For example, if the Dow index is consistently increasing over a period of time, it may indicate a bullish market sentiment and positive economic outlook. Conversely, a decline in the Dow index could signal concerns about the economy or market volatility.

While the Dow index is not a comprehensive economic indicator on its own, it is often used in conjunction with other indicators such as GDP growth, unemployment rates, and consumer spending to provide a more complete picture of the economy.

Recession? I don't think so.

●●●America's GDP Growth in the Last 2 Quarters●●●

In the first quarter of 2024, the GDP of the United States grew by 1.4 percent over the previous quarter. In the second quarter of 2024, the GDP expanded by 2.80 percent compared to the previous quarter.

These figures indicate a positive growth trend in the U.S. economy over the last two quarters.

Based on the recent GDP growth rates, it is accurate to say that the United States has not entered a recession. The GDP of the United States grew by 1.4 percent in the first quarter of 2024 and by 2.80 percent in the second quarter of 2024, indicating a positive growth trend in the U.S. economy.

Sources:

Gross Domestic Product | U.S. Bureau of Economic Analysis (BEA)

www.bea.gov

U.S. Economy at a Glance | U.S. Bureau of Economic Analysis (BEA)

Perspective from the BEA Accounts BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people, and individuals. These statistics provide a comprehensive, up-to-date picture of the U.S. economy. The data on this page are...

www.bea.gov

United States GDP Growth Rate

The Gross Domestic Product (GDP) in the United States expanded 2.80 percent in the second quarter of 2024 over the previous quarter. This page provides the latest reported value for - United States GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and...

tradingeconomics.com

/—-/ Traders follow the S&P 500