Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Dow Slips, But Doesn't Dive, On Bad Jobs News

The phrase you hear on Wall Street at lot is "baked in," as in, "the bad unemployment news this morning was already 'baked in' to the numbers."

Which may explain why, an hour after the Labor Department said the U.S. unemployment has jumped to 7.2 percent, its highest rate since 1993, Wall Street did not dive off a cliff at opening.

In the first 15 minutes of trading, the Dow is down, but only about 70 points, or about .8 percent.

The S&P 500 and Nasdaq are both down a little more than 1 percent.

This despite the Labor report that showed 524,000 jobs were lost in December.

We'll see if Wall Street keeps baking throughout the day.

-- Frank Ahrens
The Ticker is Twittering!

By Frank Ahrens  |  January 9, 2009; 9:50 AM ET
Categories:  The Ticker  | Tags: Dow Jones, unemployment  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Today: All About the Unemployment Report
Next: Stocks March Downward

No comments have been posted to this entry.

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company