Monday, September 5, 2011

Dow Jones Daily Has More Negative Tone Ahead

Wall Street Recap: Dow Jones tumbles 250 points amid stagnant jobs growth
The Dow Jones corrected 2% last Friday after data showing zero jobs growth in August. The declines left Dow 0.4% lower wow for the sixth time out of last seven weeks ahead of the long U.S. Labor Day (5 September) holiday weekend. Sentiment was also affected by fierce selldown in bank shares as a U.S. housing regulator filed a
lawsuit against Bank of America Corp, JPMorgan Chase & Co, Goldman Sachs Group Inc and other big lenders over mortgage practices that led to losses at government-owned Fannie Mae and Freddie Mac.

This week, the question of whether the Fed will initiate another round of stimulus will take center stage with key economic data i.e. Aug ISM (6 September) and Beuge Book report (7 September), followed by a highly anticipated speech from Obama on 8 September.

Dow Jones Daily Has More Negative Tone Ahead


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