Market Overview

Dow (INDU) Loses Winning Streak After Monthly Employment Report (CSCO)

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Larger-than-expected rise in weekly jobless claims sent a shiver down the market’s spine.

The Dow (INDU) is currently trading down by more than 200 points. The S&P 500 index (SPX) has also fallen down by over 2%. The Nasdaq Composite is trading at 2.1% lower levels. According to Matt King, chief investment officer at Bell Investment Advisors, markets have reacted strongly to the jobs data.

Stock declines are broad based with 29 out of 30 Dow components trading lower than yesterday’s levels. The only survivor is Cisco Systems (NASDAQ: CSCO), which is trading up on the strength of good quarterly numbers.

Posted-In: Bell Investment Advisors Matt KingNews Markets

 

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