The dow is only down 250 points on what could be interpreted as bad employment and factory order data.
But the dow futures were down 100 points when the bailout passed, hours before economic data was released
What this would imply is that unemployment data only contributed to 100 points in decline for the dow, which is not a big deal.
A 6% unemployment rate isn't bad for the economy. It used to be double digits in he early 80's.
Also it says:
The Labor Department's report that initial claims for unemployment benefits rose by 1,000 last week to a seasonally adjusted 497,000 unnerved investors worried about not only about strains in the financial market but also the effect on the broader economy.
LOL 1000 claims is peanuts given that the US has 300 million people. Even 500,000 is just a fraction of a percent of the US population or total labor force. Hardly a big deal.
But the dow futures were down 100 points when the bailout passed, hours before economic data was released
What this would imply is that unemployment data only contributed to 100 points in decline for the dow, which is not a big deal.
A 6% unemployment rate isn't bad for the economy. It used to be double digits in he early 80's.
Also it says:
The Labor Department's report that initial claims for unemployment benefits rose by 1,000 last week to a seasonally adjusted 497,000 unnerved investors worried about not only about strains in the financial market but also the effect on the broader economy.
LOL 1000 claims is peanuts given that the US has 300 million people. Even 500,000 is just a fraction of a percent of the US population or total labor force. Hardly a big deal.
