U.S. stocks extend slide after disappointing jobs data, Apple bucks trend

“U.S. stock losses escalated Wednesday, with the Dow industrials and S&P 500 retreating from record highs, after disappointing labor-market data ahead of Friday’s nonfarm payrolls report,” Kate Gibson reports for MarketWatch.

“‘If you stack up economic data over the last few days, a handful have disappointed, including today,’ said Art Hogan, a market strategist at Lazard Capital Markets,” Gibson reports. “Friday’s ‘big employment report will determine the next direction for the market, at least for the short term,’ said Randy Frederick, managing director of active trading and derivatives… For every share rising, three fell on the New York Stock Exchange, where 463 million shares traded as of 3 p.m. Eastern.”

Gibson reports, “Lazard’s Hogan played down the notion that the market’s decline had much to do with… North Korea. ‘If we were really worried about North Korea, gold would not be making a new low,’ said Hogan at Lazard Capital Markets. On the New York Mercantile Exchange, gold futures closed at a nine-month low. ‘Everybody has been long gold for three years. It feels like the same liquidation that Apple [AAPL +$2.06, +0.48%, $431.85] has been going through,’ he added.”

Read more in the full article here.


  1. Maybe payroll numbers are down cause the greedy bastards I the corporate offices are cutting the wage of their employees (not the executive wages they always seem to go up no matter how bad the company is doing), I know my company is doing just fine but when it comes time for a taste we get there’s no money, then the next week the announce they are buying back hundreds of millions of dollars in debt, investing in they company and terminating our pension plan to pay for it. All without affecting the CEO, CFO, COO ect they get a rase and millions in bonuses. Well it’s the avarice Joe that buys things and keeps the economy going so once they’ve choked us out of the market for goods, what will they do when their companies go under?

    1. Yep, I’ve noticed the trend of corporations paying much lower salaries or laying off workers while their CEO’s continue getting raises and perks. That’s where the figure of the richest 2% making more than the entire 98% of the working population. Staggering.

    2. it’s probably something called ‘contract’s and legal would be involved if contrats were not honored. employees probably don’t have contracts and CEO, CFO, etc, don’t fall under the same category as employee.

  2. Apple had better buck some trends after that nearly 40% slide. Apple has all the money and yet Apple shareholders have been taking most of the losses. I also find it amazing how long the hedge funds can manipulate losses to be in their favor. I’m not that good with math, but the losses are bound to show up somewhere along the line. It appears that they’re playing the game of musical chairs with the number of chairs or the quality of the chairs diminishing. I’m fairly certain all hedge funds can’t be in collusion so there must be some smaller hedge funds also taking hefty losses along the way.

  3. The stock market is artificially inflated with all the money Central Banks have been printing since the bubble burst to counter the deflation. That imaginary money has been looking for a home for a long time and is part of the reason Apple took off so fast prior to the 700+ peak…

    If you bought Gold at a reasonable price hold it- long term you will be glad you did. That is REAL Gold- not paper. Same for Silver.

    Back to Apple, the market Apple sells in is a basket case in much of the world and will not get better magically because Apple designs a better smartphone. The very fact that Apple has been going sideways after a significant correction ought to wake a few up.

    1. Let’s see: those Krugerands I bought 30 years ago at about $600/oz are worth about $1560/oz today. A whopping 3% annual growth rate! On the other hand, that AAPL I bought 15 yrs ago is worth nearly 70 times what it was — that’s about a 33% growth rate.

      Guess I’ll stay with AAPL long term… 🙂

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