Stocks fell again today as Wall Street remains focused on the turmoil of Europe. Jobless claims fell to lowest levels since April, indicating slow growth for employment.
A better-than expected Employment Situation report goosed stocks before the open but not enough to trigger a surge. Unless carefully timed, new buying is risky.
"THE Australian dollar has risen on strong US employment data.
At 12pm AEDT today, the dollar was trading at 104.00 US cents, up from 103.73 cents at yesterday's close."
Stocks fell as investors took into account the weaker employment numbers released last week during the holiday. Major indices lost key ground from Monday's drop.
While slow job growth most affects the unemployed, there are a number of staffing and job search companies that rely on the job market for their bottom line.
Stronger employment numbers was not enough to keep Wall Street from paring earlier gains today. Uncertainty in Europe's debt crisis was once again the culprit.
Uncertainty about new hires, the economy, Spain and Q1 earnings combine to put a lid an a rise in stock prices. Clarification will take time, lower prices likely.
Without uncertainty out of Europe, our stock market would sizzle. May anyhow. Euro-situation due for catharsis and flow of money out of safe bonds into stocks.
As the U.S. economy continues to improve, some industries are poised to benefit more than others. A stronger economy means higher demand for the battered construction industry.
Friday's disappointing Employment Situation report will jolt the market today with a chance of a drop of 135 to 175 points in the DJIA. Earnings begin to flow tomorrow.
Despite popping earlier in the day on solid employment numbers, Wall Street faded to close flat. Still, the investors enjoyed one of the best weeks in recent years.
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For a change, the news front out of Europe is positive. Money awaits on the sidelines to buy. This week's economic indicators may give them the green light.
U.S. economic indicators are gaining traction, and investors are regaining interest in the stock market. Is the safe money finally ready to come off sidelines?
This week's 7.6% surge in the market changes the game. We now have a trading range that will offer a host of investment opportunities but timing of buys is key.