One day after posting a rebound across the board, the major stock index
composites are posting in the red. The DJIA fell below break even as did the
Nasdaq and the S&P 500 indices. Jobless claims posted today and came in weaker
than what many were hoping to observe, but about as good as most expected. This
post did nothing to reduce the anxieties that investors have been feeling
regarding the state of the economic recovery in the U.S. The negative economic
posts have been adding up this week and this action is sending stocks spiraling
downward. Specifically, the Labor Department posted news today that the weekly
initial jobless claims fell by 1,000 to 400,000 in the week ended July 30.
Jobless claims data remained generally flat. The ADP report posted earlier this
week as well and posted that companies added only 114,000 jobs in July which was
down by about 30,000 from Junes numbers. These marks will do little to provide
that catalyst for a positive stock trend turn around and current eurozone debt
worries are creeping back into the investor psyche as well. As the trading
session approached mid-day, the major index composites in the U.S. were
negative. The Dow was lower by 1.63 percent at 11,702.76. The Nasdaq was lower
by 2.22 percent at 2,633.16 and the S&P 500 was lower by 1.92 percent at
1,236.20. Frank Matto
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