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U.S. creates 235,000 jobs in February; unemployment 4.7%
U.S. creates 235,000 jobs in February; unemployment 4.7% - MarketWatch
Stocks were flat on Thursday but for the first time in a few days they rallied off their intraday lows to close strongly. The Dow gained 2-points. The indices are finding some support at key levels that must continue to hold or we could see another leg lower.
Stocks were mostly lower yesterday, although the Nasdaq managed a small gain. The price of oil had its worst day in a long time and strong employment data shook up the bond market and all but cemented a rate hike by the Fed later in March. The Dow lost 69-points.
It was another slow, slightly negative day for stocks on Tuesday with more selling in the last hour of trading, something we have not been used to this year. That was 3 weak closes in the last four trading days so there may be a bit of a change in character developing in the market. Still, 2 or 3 day pullbacks are healthy, and even more is fine as long as support is holding. The Dow lost 30-points.
The bears are putting a little more pressure on lately, but the bulls are no going away easily. The indices opened with some moderate losses on Monday but the dip buyers were right there again. If there was a difference from the recent trend of strong closes, it was that there was some very late selling so it was a bit of a mixed bag.