Monday, June 6, 2011

Dow Jones Down 97 Points On Weak Job Data, Plunging 2.3% WOW

Wall Street Recap: Dow Jones down 97 points on weak job data, plunging 2.3% wow

The Dow Jones tumbled by as much as 145 points before ending at 97 points lower to 12,151, following a sluggish May jobs report that was partly offset by more upbeat data on the May service sector.

Sentiment improved by the positive news that the European finance ministers agreed a new aid for Greece.

After falling 6% from 52-week high of 12,929 points, all eyes will focus on the Beige Book report (8 June) for an indication of the sustainability of U.S. economy growth. Meanwhile, investors will also closely watch the OPEC meeting (8 June) for deciding whether to raise oil production.

Daily Dow Jones: Violation Below Downward Channel Will Drive Index Lower Towards 11900-12000.


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