Apple among decliners as techs weaken, mirroring broad market after disappointing U.S. jobs data

“The tech sector weakened along with the broader market following what was seen as a disappointing report on new jobs in December,” Rex Crum reports for MarketWatch.

“Before the market opened, the Labor Department said the U.S. economy added just 74,000 jobs in December, marking the smallest monthly increase since early 2011,” Crum reports. “The unemployment rate fell to 6.7% from 7% in November, but that decrease was credited partly to a large number of Americans dropping out of the labor force and who are no longer looking for work.”

“Among leading tech stocks, declines came from Apple Inc., Amazon.com Inc., Netflix Inc. and Hewlett-Packard Co.,” Crum reports. “The tech-heavy Nasdaq Composite Index bounced around its breakeven line, and was down by 2 points at 4,153.”

Read more in the full article here.

23 Comments

    1. When the market is roaring and all the tech stocks are at all-time highs, Apple shares are down. When the jobs report hits the fan and the tech stocks are sinking, Apple shares are down. The more things change, the more Apple remains the same. Good news is bad news for Apple and bad news is bad news for Apple. Also, no news is bad for Apple.

  1. The Obama Failure.

    An economics professor at an area college recently failed an entire class. That class had insisted that Obama’s socialism worked and that no one would be poor and no one would be rich, a great equalizer.

    The professor then said, “OK, we will have an experiment in this class on Obama’s plan. All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.” (Substituting grades for dollars – something closer to home and more readily understood by all).

    After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little.

    The second test average was a D! No one was happy. When the 3rd test rolled around, the average was an F. As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.

    To their great surprise, all failed and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed. Could not be any simpler than that.

    What the students learned and unlearned after years of liberal indoctrination at U.S. public schools:

    1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.

    2. What one person receives without working for, another person must work for without receiving.

    3. The government cannot give to anybody anything that the government does not first take from somebody else.

    4. You cannot multiply wealth by dividing it.

    5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get the fruits of their labor, that is the beginning of the end of any nation.

      1. We must not have socialism quite yet since for the first time in history over half of our Congress are millionaires. Rewards should go to those who actually do something useful to earn it!

        1. Members of the Politburo did quite well financially also. I heard Raul and Fidel live very, very comfortably. Fearless leader, Kim Jong II, par-tays with The Illustrated Man (aka Dennis Rodman.)

          Socialism is theft.

        1. Very astute observation. It’s what’s wrong with this country these days. People can’t take responsibility for their own actions or failures so they blame others. Or Wall Street. Or hedge fund managers. Etc.. It’s so easy to blame everyone else when you fail. When you fail to think. When you fail to use common sense. Particularly in investing.

          1. then the problem lies in taxation, not in your freedom to determine if you wish to invest in hedge funds or not. As you may have heard, the government gives you no choice to be taxed. Which is my point.

            cue George Harrison, circa 1966.

    1. Nice story, but the fact remains that this notion that Obama is a Socialist is a lie. The middle class is getting poorer, the poor are poorer than ever, and the upper 10% are getting richer than ever.

      When you have poor people who can’t house or feed themselves, you get more crime. When you have the poor going to emergency rooms instead of the clinic, its the workers who get the bill through higher healthcare costs.

      If you want to improve the economy for all, the government should hire the unemployed to fix our infrastructure. They should guarantee good public schools so even the poorest has the chance to reach the “American Dream”.

      1. Rick,

        While I think you did a good job explaining your concept, I think it’s severely flawed.

        There are young people and families in countries many, many times poorer then ours and they continue to send their children to our country, and others to get great educations. Many of these young students then come here or go abroad and become very successful if they have the desire, drive and a sense of “necessity” to grow.

        Being poor little to do with desire or improving ones self. Laziness and lack of values, parenting, guidance or any real sense of necessity does. You or those on both sides of the isle can call Obama what they want but his policies and those who support them speak for themselves.

    2. First…Then: That was a rather good description of exactly why hard core socialism ALWAYS fails. What’s missing is what happens at the level of leadership in such catastrophic systems: Because the leadership has zero tools to incentivize the populace, they turn into full blown totalitarians, aka rulers by way of negative reinforcement. That’s all that’s left to them as a tool. Thus hard core socialism IMMEDIATELY fails and no longer exists.

      NOW: Let’s consider what YOU want instead!

      Kill the poor, feed the rich. Enough said.

    3. Except for that little tiny fact that the US is not a socialist economy but a capitalist economy. That’s why in this capitalist economy almost half the people are poor while about 10% of the largest businesses don’t pay any fed income tax while many large businesses (billion dollar) pay the same tax percentage as a middle class worker and politicians are millionaires. Go ask Romney.

      In the past, billion dollar companies were in large industries such as steel, petroleum and large auto manufactures. Today we have fast food restaurants, retail stores and even coffee shops that make billions of dollars in sales a year. Unfortunately, they also employ a good percentage of workers. Yet their workers are so poorly paid that they rely on local municipalities for aid to able to support their families.

      1. You can legislate so that all people can participate in a fair playing field and have fair opportunities unlike what we have today where many become billionaires at the expense of their workers which costs their cities that then need to rely on gov assistance to survive.

      2. When a person receives SS and Medicare after 30-40 of working with no other income and barely survive, shows clearly how poorly compensated these workers were for their 30-40 years of labor while their companies raked in billions and now pay politicians to keep the workers down (no opportunity).

      3. The gov gives you the dignity and right that when you go to work in the morning you will be able to return home safely, in that you don’t have a high risk of being injured or killed at work because the owner wants profits above worker safety. That you have the right to feed yourself and family without constant fear of being constantly poisoned because the company wants profits above customer safety.

      4. You cannot multiply wealth by cutting taxes, eliminating job benefits or paying low wages. You only multiply wealth through sales. Mc Donalds has sales of about 24 billion dollars a yearm yet tells their workers who can’t make a living on thier wages to cut their heat, cut the cooling, spend less and get a second job.

      5. That’s republican economics for you, they say a person would rather be on unemployment who makes about $1,000.00 a month, yet they’ll have about about $1,400.00 in expenses per month. And of course, only black people, hispanics and women especially single mothers make up the vast load of those collecting benefits.

    4. “The number of employed women 16 and over declined by 20,000 from November to December, according to data released today by the Bureau of Labor Statistics.

      The number of women employed dropped from 67,882,000 in November to 67,862,000 in December.

      Additionally, the number of women who are not in the labor force climbed to a record high of 55,028,000 last month.”

      71% of females voted for The Messiah.

    5. Now now, you know darn well that the United Hates is based on warism.
      Country born through war.
      Close to 50% of the history at war.
      A couple of so called “wars” without the blessings of the UN. You might call them conflicts or whatever, but unethical immoral attacks like that, hey it’s crimes against humanity.
      Too gutless to bring leaders to trial for crimes against humanity.
      Use of WMD on unarmed civilized populations.
      Slavery.
      Torture.
      Removal of democratically elected governments.
      And almost the lowest of the low, ignorance of a white flag. I mean really if that isn’t warism what else is.
      Alliance with Anustralia cause heck they make you look good.

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