This is not good......bad employment news....DOW nosediving

[a kennedy]

Stock Index Futures (Stock exchanges closed)
Index Value Change % change Time
DOW 12,100.00 -138.00 -1.13% 8:46 AM ET
NASDAQ 2,300.50 -25.50 -1.10% 8:46 AM ET
S&P 500 1,296.20 -16.20 -1.23% 8:49 AM ET


http://www.usatoday.com/money/default.htm

[no_hypocrisy]

1. Remember "the Old Days" when the DOW would RISE when a corporation

cut its workforce?

[sharp_stick]

2. The DOW is not yet open

as noted in (stock exchanges closed) paste you have there. What is the limit to the term nosedive? I assume you have some form of secret formula to inform everyone of what exactly a nosedive is?

[Pale Blue Dot]

3. Futures dropped 100 points right after the announcement of the employment numbers

I think that qualifies as a nosedive.

[sharp_stick]

29. I wouldn't bet the house

on any futures numbers, they rarely predict the day and often not even the morning.

[Cali_Democrat]

6. Dow index futures

[sharp_stick]

28. Futures are a poor predictor of the day

never-mind the week or month.

[Cali_Democrat]

30. They are an indicator of where the market will open.....

Then when the market is open, the index futures move in tandem with the cash stock market minus cost of carry and dividends. That's why you always see the index futures quotes less than the regular stock index quotes (by only a few points).

That was indeed the case today. The stock market opened pretty much where the index futures were at 9:30am est, plus cost of carry and dividends.

[vi5]

4. Feel it all trickling down....

Supply Side! Fuck Yeah!!!

[Cali_Democrat]

8. Tax cuts work

Just look at the last decade since Bush gifted us with those lovely tax cuts! US economic BOOM!

[JoePhilly]

5. What was the DOW on June 3rd 2010? And on June 3rd 2009?

Anyone who knows, isn't flipping out this morning.

[Pale Blue Dot]

7. What about the employment news? No reason to flip out there?

How are you spinning that one?

[JoePhilly]

13. wow, from 9 to 9.1 ... let's run screaming.

2 questions for you ...

1) For how many months in a row have we added jobs?

2) What was the unemployment rate in May of 2009 and May of 2010?

I'll help you with #2.
http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=LN_cpsbref3

[Pale Blue Dot]

17. So every economic report this week shows things going in the wrong direction,

and all you've got is that the numbers aren't yet as bad as two years ago?

Bravo! :-)

[JoePhilly]

20. You mean monthly data that tends to be correlated?

My point is a rather simple one. Data from any single month is pretty insignificant.

If you want to know if things are getting better, getting worse, or staying the same, you need to be able to read a trend line.

Knee jerk reactions are exactly that, knee jerk reactions.

[Pale Blue Dot]

23. Lol - I follow the rports DAILY.

I assure you, the trend lines ARE what everyone is concerned about - and they're moving DOWN.

:rofl:

[JoePhilly]

24. yes, nosediving .... I've heard.

its very scary.

On edit: I recall at about this time last year when the DOW hit 9800, DU was on fire with predictions of double dip and eminent doom.

[tekisui]

9. Unemployment up to 9.1%, very bad news.

[Liberal_Stalwart71]

25. Meanwhile, the Republicans and Teabaggers rejoice!!

:puke::puke::puke:

[kick-ass-bob]

11. The day to day movements of the DJI is completely emotional

and then attempted to be capitalized upon by those who play the market speculatively.

Trends and solid numbers of individual companies over the long term is all anyone should pay attention to.

[JoePhilly]

21. My point exactly.

btw ... as I post this, the DOW is now down a whopping 75 points.

[CoffeeCat]

10. I am amazed that the DOW is 12,000+

Seriously. I understand that stock prices and the economic health of the middle class
aren't in direct correlation. It appears that our corporate overlords have figured out
how to flourish financially without us.

However, what is propping up those high DOW numbers?

We're clearly in the middle of a deep, deep recession--whether or not the media says is.
And real unemployment is much higher than 9.1 percent. Plus, wages are stagnant and our
real incomes are dropping as benefits are cut and the prices of food and gas go through
the roof. Housing values are horrible.

I fail to understand how Wall Street can be experiencing a big windfall--with so much suffering
in the middle and upper-middle classes.

It's bizarre.

[offmybrain]

12. dividends

One thing propping up stocks is dividends.Where else can you earn 2-5% on your money?

[Yupster]

15. There's something we can tax more

Even 25 % taxable still makes a 4 % dividend worth 3 %. That's still pretty good.

[offmybrain]

19. tax dividends

If you increase taxes on dividends you are hurting retired seniors who rely on that income stream.

[Yupster]

26. True

and after them getting killed by their cd interest going to nothing too.

Restaurants and malls are wondering where their seniors went. The seniors are wondering where their cd interest went.

[The Backlash Cometh]

14. Oh, bad employment numbers have a negative impact on the stock market?

You mean, they knew this was going to be the effect BEFORE they began outsourcing our jobs?

Fuggheads.

[KeyserSoze87]

16. The president needs to do something about this.

He should pass a new stimulus package or something, because we cannot afford to have the economy continuing to be like this. The only good thing I can say about this dismal jobs report is that we didn't lose any payrolls during the month. But of course, that is not saying much at all.

[JoePhilly]

32. How does he pass a stimuls package with the GOP controlling the House?

They don't even want to spend money to help the people in Joplin.

[KeyserSoze87]

38. Good point.

[Lionessa]

18. It's F'ing EXCLLENT news. Until the unholy grail called

the stock market collapses again, we won't get jobs for middle class citizens. The top 1% need to begin feeling like the rest of us do. And besides it's already rebounding.

Don't get your panties in a wad about it, it's just the stock market.

[malaise]

22. DOW is tanking due to that ReTHUG vote against the

debt ceiling. Do not be fooled

[Yupster]

27. No

that was known to fail way ahead of time. They announced it so no one would be surprised.

[liberal_mama]

37. I think so too!

:)

[JoePhilly]

31. As of 1pm, the DOW down a staggering 38.07 points!!!!!

SELL!!!!!!!

[tammywammy]

33. Heh n/t

[Pale Blue Dot]

35. I really, really, really hope

you're buying stocks. Put all of your money in!

Here's hoping! :-)

[JoePhilly]

39. Tea Baggers said the same thing in March 2009.

When they predicted a DOW of 2000. I really hope they sold at 6500.

To be fair to you ... the DOW right now is too high. I'd put the correct price at between 10.5 and 11.5.

When the DOW hit 10.5 and then 11.5, I shifted some gains to safe investments. When it hit 12k, I rebalanced yet again and took more gains.

From here, I'm do some dollar cost average investing. I don't see many bargains.

If the DOW drops below 11.5, I'll look for some easy winners. If it drops below 10.5, I'll jump in further.

At this time last summer the DOW was 9800. If you had money in the market then, and but did not lock in some gains in the last year, you are an idiot.

If you have no money in the market, and you are running around with your hair on fire today, you don't bring much to a discussion of how to invest from today into the future.

[xchrom]

34. Stalled economy? Nothing must be done

http://www.marketwatch.com/story/stalled-economy-nothing-must-be-done-2011-06-03

WASHINGTON (MarketWatch) — Economic policy makers are boxed in. Politically, they can’t do more, but the weak performance of the economy keeps reminding them of how much remains to be done.

U.S. job growth stalled in May, rising by just 54,000, the slowest pace of job creation in nine months, and only about half the 125,000 expected by the MarketWatch consensus. The official unemployment rate rose back to 9.1%. The number of people who have been without job for more than six months increased, while the number of people who started looking for a job decreased. Read our complete report on the increase in the unemployment rate to 9.1%.

Prospects are not bright.

It’s not just one weak jobs report that’s troubling us. Most of the recent economic data have been bad. The closely watched Institute for Supply Management index fell at the fastest rate in 27 years. Consumer confidence is down. Auto sales dropped, and so did sales at the mall. See our Economic Calendar for the grim details.

We can blame some of this sluggishness on high energy prices, and the supply disruptions stemming from the Japanese tsunami. Those factors have already begun to fade.





maybe people are willing to address the phony impotence of saying that 'the political climate' prohibits action.

[On the Road]

36. You Had Me Scared There for a Minute

138 points is not a nosedive.