The US labour market showed signs of a steady slowdown in October, with job openings increasing moderately and layoffs declining, according to the latest Job Openings and Labor Turnover Survey (JOLTS) report released by the Bureau of Labor Statistics on Tuesday. Job openings, a key indicator of labour demand, rose by 372,000 to 7.744 million at the end of October. However, the September figures were revised downward to 7.372 million from the initially reported 7.443 million. Economists polled by Reuters had anticipated 7.475 million vacancies. Labour Market Dynamics While job openings increased, hires dropped by 269,000 to 5.313 million, and layoffs fell by 169,000 to 1.633 million. These figures suggest a gradual cooling of the labour market rather than a sharp contraction. Hurricanes and strikes also impacted October’s labour market data. Rebuilding efforts in storm-affected regions and the resolution of strikes at Boeing and another aerospace company are expected to contribute to a ...
It felt like it's the same story everyday.
And that's probably what the bear market looks like....making everyone run and too afraid to invest.
I felt that the picture below as captured from Microsoft's Money app described the current market in a very simple and clear manner.
The oil rallied but this time, another bad news. Apparently, disappointing services data raised the risk that weakness in manufacturing is spreading.
The Standard & Poor’s 500 Index fell a third day after data showed service industries expanded at the slowest pace in nearly two years. Banks led losses in America and dragged European equities to a third day of declines. The dollar plunged to a three-month low versus the euro.
The plunge happens even as the oil market rallies.
The S&P 500 fell 1.2 percent at 11:08 a.m. in New York, headed for a third straight drop after a 1.9 percent slide Tuesday. The index is looking for its first gain in February following a 5.1 percent drop last month that delivered the weakest start to a year since 2009.
Financial firms in the S&P 500 plunged 2.2 percent, bringing the loss this year past 13 percent. Legg Mason Inc. and Charles Schwab Corp. have lost more than 29 percent to pace declines, while investment bank Morgan Stanley is down 25 percent.
The Stoxx Europe 600 Index fell 2 percent, trimming losses of more than 1 percent as miners and real-estate companies paced gains. Italian banks slumped, as Banca Popolare di Milano Scarl, Banco Popolare Societa Cooperativa and Banca Monte dei Paschi di Siena SpA fell more than 5 percent.
The Hang Seng China Enterprises Index retreated 2.5 percent while the Shanghai Composite Index ended the day 0.4 percent lower after falling 1.9 percent. Chinese financial markets will be closed next week for the Lunar New Year. Japan’s Topix index sank 3.2 percent. Stocks around the world have lost $6.5 trillion of value so far this year.
What a way to start 2016....is this just the beginning of things to come? Hmmm...food for thought!
And that's probably what the bear market looks like....making everyone run and too afraid to invest.
I felt that the picture below as captured from Microsoft's Money app described the current market in a very simple and clear manner.
 |
| It's almost painful to watch the daily decline |
The Standard & Poor’s 500 Index fell a third day after data showed service industries expanded at the slowest pace in nearly two years. Banks led losses in America and dragged European equities to a third day of declines. The dollar plunged to a three-month low versus the euro.
The plunge happens even as the oil market rallies.
The S&P 500 fell 1.2 percent at 11:08 a.m. in New York, headed for a third straight drop after a 1.9 percent slide Tuesday. The index is looking for its first gain in February following a 5.1 percent drop last month that delivered the weakest start to a year since 2009.
Financial firms in the S&P 500 plunged 2.2 percent, bringing the loss this year past 13 percent. Legg Mason Inc. and Charles Schwab Corp. have lost more than 29 percent to pace declines, while investment bank Morgan Stanley is down 25 percent.
The Stoxx Europe 600 Index fell 2 percent, trimming losses of more than 1 percent as miners and real-estate companies paced gains. Italian banks slumped, as Banca Popolare di Milano Scarl, Banco Popolare Societa Cooperativa and Banca Monte dei Paschi di Siena SpA fell more than 5 percent.
The Hang Seng China Enterprises Index retreated 2.5 percent while the Shanghai Composite Index ended the day 0.4 percent lower after falling 1.9 percent. Chinese financial markets will be closed next week for the Lunar New Year. Japan’s Topix index sank 3.2 percent. Stocks around the world have lost $6.5 trillion of value so far this year.
What a way to start 2016....is this just the beginning of things to come? Hmmm...food for thought!
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