Word: dow
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...cuts all by itself, bring the sector?s grim total to the 1 million mark over the past 12 months. And Wall Street, already in its traditional-of-late Friday short-selling mode, was clearly not in any condition to hear more scary numbers: Both the Dow and NASDAQ sold on the pre-bell news and didn?t slow down until mid-morning...
...next step will be Wall Street?s. Investors are waiting to see some new business to go with those slenderized costs - that?s why the NAPM manufacturing report caused a 200-point rally in the Dow when it hit last week. The reason for Wall Street?s general glumness is merely that the news from individual companies hasn?t yet endorsed that view. And don?t think too much of the Friday morning selloff - lately, Fridays have been dominated by general-pessimism short-sellers cleaning up their portfolios ahead of the weekend. The unemployment number was a psychological catalyst more...
...workers from their payrolls in August. For the machinist who has to go home and tell his wife he?s out of a job, that?s bad. And it?s a sign of how glum everybody is that Wall Street sold hand-over-fist on the news - with the Dow shedding 240 points by early afternoon. (These days, investors are so strung out by this slowdown - and the Fed is easing so implacably - that most bad news is just plain...
...Dow stocks were up, up, up (when was the last time we saw 200-point curbs in on the upside?) after the National Association of Purchasing Management (NAPM) said its index of industrial activity soared last month as factories upped production and lowered inventories amid - gasp! - new orders. And suddenly it seemed that the bears had been barbecued right out of existence...
...index took a dive for the second straight month, reflecting new fears about the job market. And Thursday, the Commerce Department struck with the news that consumer spending rose by only 0.1 percent in July, down from an already anemic 0.5 percent in June. Both reports sparked triple-digit Dow selloffs on Wall Street, with Thursday?s pushing the index below 10,000 for the first time since April...