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Reply #2: Effect of Employment Report on Markets [View All]

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unlawflcombatnt Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jun-07-08 03:22 AM
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2. Effect of Employment Report on Markets
Review of the Housing Survey shows an sum total of -165K jobs have been lost during 2008, going from 146.211 million in December 2007 down to 146.046 million.

Despite the claims by the media that the oil price spike is the cause of the Dow's nearly 400-point loss, there was a sharp downturn at the market's opening at 9:30 AM, after the Employment Report came out at 8:30 AM.

Below is a link to a 2-day market chart showing the movement of several different market indexes and stocks:


Legend for the above chart:

XAU=Gold-Silver Index
XBD=Investment Brokers/Investment Banks
FNM=Fannie Mae
INDU=Dow Jones Industrial
TNX=Treasury, 10-year
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