The early indication is that I bought too soon. Hard to believe, if it happens, that we'll have had ten days out of eleven DOWN!
Aug. 5, 2011, 5:29 a.m. EDT
Stock futures signal more losses; payrolls key
Global rout continues on worries over U.S., global economy
By William L. Watts, MarketWatch
FRANKFURT (MarketWatch) — U.S. stock index futures pointed to further losses for Wall Street on Friday morning, with investors anxiously awaiting all-important employment data a day after stocks were hammered around the world on fresh worries about the economy and prospects for global growth.
Futures on the Dow Jones Industrial Average fell 35 points to 11,336, while S&P 500 futures fell 3 points to 1,195.70. Nasdaq 100 futures fell 6.25 points to 2,203.25.
“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,” said Michael Hewson, strategist at CMC Markets in London.
The U.S. likely gained 75,000 jobs last month and the unemployment rate remained at 9.2%, according to economists surveyed by MarketWatch. The Labor Department will release the July employment data at 8:30 a.m. Eastern.
Near-term market direction will likely pivot around the payrolls data, strategists agreed.
Full story: http://www.marketwatch.com/column/indications?dist=beforebell
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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