Friday, August 5, 2011

Dow Jones


The U.S. stock index futures were already pointing to further losses on Wall Street Friday after investors drove the Dow Jones Industrial Average to a record low the previous day over fears of a widening economic crisis at home and abroad.As the market was less than an hour from opening Friday morning, investors were already eyeing the jobs report, which experts say might make things worse.
"I think we're going to see further weakness ... It's going to take a really, really good payrolls figure [to turn the market around] and I don't think we're going to see that," strategist Michael Hewson told the Wall Street Journal.
The U.S. gained 117,000 jobs last month and the unemployment rate remained at 9.1 percent, according to data released Friday.
Investors will likely be influenced by the jobs report, and that could mean more trouble for an already struggling market, experts insist.
Stocks not only took a beating on Wall Street Thursday, but the panic triggered sell-offs around the world as European and Asian investors were also concerned about a poor economic outlook for the global market.

At the close of the bell Thursday, the Dow Jones Industrial Average (DJIA) was down 512.76 points, or 4.31 percent, settling at 11,383.68. The loss managed to erase all of the DJIA's gains for the current year.
Economic and political turmoil have been keeping investors on shaky ground for days, with Thursday seeing the worst sell-off on Wall Street since the 2008 financial crisis.
Despite the passage of the U.S. debt bill and President Barack Obama signing it into law, investors are still concerned about the nation's poor economic outlook.
The economic situation in Europe is no better, as investors have expressed concern that the continuous debt crisis may spread to Spain and Italy.
On Thursday, investors dumped troublesome stocks and snapped up stocks thought to be more reliable.
As the bell prepares to ring Friday, many are eyeing the DJIA and wondering just how low it will go.

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