Market Sells Off Even More In The Last Hour Ahead Of October Jobs Report

November 1, 2007 at 6:18 pm  ·  Category: Market Commentary

A really bad day turned into a terrible day in the last hour (Intraday Chart). 

The reason, I think, is people wanting to get out of stocks ahead of tomorrows October Jobs Report which will be released before the open at 8:30am EST.

If that number comes in weak, that could spell big problems for stocks.  But I expect the government to manipulate it in any way possible in order to at least show a decent number.

Here’s how markets looked today:

S&P: -2.64%

Dow: -2.60%

Nasdaq: -2.25%

Russell (small stocks): -3.97%

Nasdaq-100 (100 largest Nasdaq stocks): -1.87%

S&P Financials (XLF): -5.13%

S&P Tech (XLK): -1.09%

Posted by Greg Feirman  ·  Trackback URL  ·  Link

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