Wall Street Upset By Jobless Rate

from the yeah,-well... dept

Stocks dropped today, and people are blaming an increased jobless rate. Apparently, a lot of people have been applying for unemployment. What I find amusing about this is that it’s Wall Street that’s been causing a good number of these unemployment applications by telling companies they need to cut costs by laying off employees. Now, they’re upset that people are out of work?

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Comments on “Wall Street Upset By Jobless Rate”

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Name Goes Here says:


This is backwards to what I’ve seen happen in the past bull market. I can recall Wall Street rallying on job cut news because they claim the businesses will be run more efficiently. However, this may just be another sign that we are in a bear market. During a bull market, Wall Street shrugs off bad news and really rallies on the good news.
The nasdaq composite seems to be touching a downtrend line on the monthly chart. I guess the next week or so will provide more evidence on which direction to take. Probably any breakout will turn out to be false and you can short some more.

Anonymous Coward says:

Re: backwards

if you start shorting now, thats a little late. Sorry, but the short party is over; for the forseeable future we will see a sideward movement. Go out of the market or equity neutral and put your mony in selective high rate fixed income and come back if the market recovers more than 15% from the bottom.

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