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Jobs Report: +173,000, 5.1% unemployment
U.S. job growth slows, unemployment rate falls to 5.1 percent
U.S. job growth slows, unemployment rate falls to 5.1 percent | Reuters
Stocks were mixed but mostly higher on Thursday as the Dow gained 23-points. The problem with the action was that the Dow was up 199-points during early trading. The Nasdaq closed down as the big tech stocks that had been leading the bull market during the first half of the year, lagged.
They call them "FANG" for Facebook, Amazon, Netflix, and Google, and one thing that a bear market usually does is create a different group of leaders
Stocks gapped up on Wednesday morning, and after a weak attempt by the bears to push back, the bulls took charge and the Dow ended the day up 293-points. The volatility is still elevated, and while this is a good step for the bulls toward generating a bottom for this correction, we are in low volume, pre-holiday trading territory, it is possible that this is a temporary move in an attempt to fill open gaps.
A reminder that China's stock market was closed last
Stocks resumed their downside slide on Tuesday as the Dow shed another 470-points and it took a late push higher to take it off the 548-point loss it had with about 5 minutes left in the day. Oil also fell and there seems to be a strong correlation lately with the price of oil, as well as the problems in Asia.
Volume was up but lighter than you might expect on a day like yesterday, but it is the last week of summer - as far as pre-Labor Day goes -
Stocks opened sharply lower on Monday, and while it was on a much smaller scale, the action resembled the that of last Monday's wild day where the open was the worst part of the day, the Dow rallied back to near break-even, then puttered into the close - losing about half of those opening losses. The Dow ended the day down 115-points.