Market Watch: Wall Street’s Losing Streak Continues

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U.S. stocks were down sharply Thursday, as investors’ worries took control of the market.

Experts believe that the uncertainty over economic growth are pushing the market lower right now. Worse yet, many see little potential for a quick turnaround that would end this losing streak. Tomorrow’s jobs report will be the next important piece of data for Wall Street to digest.

This morning, Viacom dropped almost 10% with Disney sliding nearly 5% to lead the tumble. Tomorrow’s jobs report could go a long way towards determining market direction in both the short- and medium-term. A moderate number, experts reason, could raise doubts about the timing of an interest rate hike. But should the report yield an impressive number, and unemployment falls to 5.2%, a rate hike could be in order for September. Such timing would likely cause greater fear on an already tense Wall Street.

Here are the final numbers from Thursday on Wall Street:

Dow Jones Industrial Average: 17,419.75 (-120.72)

NASDAQ: 5,056.44 (-83.50)

S&P 500: 2,083.56 (-16.28)    

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

@phillipcannella

Phil Cannella a revolutionary thinker. Phil Cannella's cause is the Phil Cannella Crash Proof Retirement system. Phil Cannella has worked for decades.
Get the truth on how Wall Sts stacked against you, on The @CrashProofShow Sat at 10 AM on @1290wjno in FL, and 11 AM on @TalkRadio1210 in PA - 1 year ago
Phil Cannella
Phil Cannella

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