U.S. stocks crater as jobless claims rise

“U.S. stocks fell Thursday after see-sawing much of the day as rising jobless claims overshadowed some improvement in housing and an advance in technology shares,” Kate Gibson reports for MarketWatch.

“After a mild rise, the Dow Jones Industrial Average (DJIA 10,660, -79.12, -0.74%) was off 81 points at 10,658 with all but four of its 30 components declining. The Standard & Poor’s 500 Index (SPX 1,125, -9.27, -0.82%) fell 10 points to 1,124, with financial companies falling the hardest among its sectors and technology firms gaining,” Gibson reports. “The Nasdaq Composite Index (COMP 2,327, -7.28, -0.31%) fell 10 points at 2,325.”

Gibson reports, “Ahead of Wall Street’s start, stock futures fell after the Labor Department said first-time claims for jobless benefits rose last week after a two-week decline.

Full article here.

MacDailyNews Note: Apple (AAPL) shares are currently up $1.17, or 0.41%, to $288.92.

56 Comments

  1. Of course that video failed to mention the slow decline that started with the spokesmen for Chesterfield’s came into office. And the 8 years before our current administration. And the 6 years of a republican controlled congress… yeah it’s all the black guy’s fault.

    Do people seriously think the 80s were super awesome funtime happy jobland?

  2. Of course that video failed to mention the slow decline that started with the spokesmen for Chesterfield’s came into office. And the 8 years before our current administration. And the 6 years of a republican controlled congress… yeah it’s all the black guy’s fault.

    Do people seriously think the 80s were super awesome funtime happy jobland?

  3. Hmm…, end of the summer hiring season I see.

    Next stock cycle is the run up for the holidays, followed by the dismal jobs report when all the temporary holiday workers get laid off.

    This is what happens when a economy moves sideways.

    DOW 10,000 = Go Long

    DOW 10,500 = Go Short

    CPI goes down, the Fed will buy Treasuries, you buy gold/silver

    note: not investment advice

  4. Hmm…, end of the summer hiring season I see.

    Next stock cycle is the run up for the holidays, followed by the dismal jobs report when all the temporary holiday workers get laid off.

    This is what happens when a economy moves sideways.

    DOW 10,000 = Go Long

    DOW 10,500 = Go Short

    CPI goes down, the Fed will buy Treasuries, you buy gold/silver

    note: not investment advice

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