https://www.howestreet.com/2024/08/flat-earnings-take-toll-on-stock-markets-mark-leibovit/

Disappointing Jobs Data, Earnings Lead To Extended Sell-Off On Wall Street

Stocks moved sharply lower during trading on Friday, adding to the steep losses posted during Thursday’s session. With the extended sell-off, the tech-heavy Nasdaq dropped to its lowest closing level in two months and the S&P 500 hit a nearly two-month closing low.

The major averages ended the day off their lows of the session but still firmly negative. The Nasdaq dove 417.98 points or 2.4 percent to 16,776.16, the S&P 500 plunged 100.12 points or 1.8 percent to 5,346.56 and the Dow tumbled 610.71 points or 1.5 percent to 39,737.26.

Reflecting the sell-off seen over the past two days, the major averages also moved sharply lower for the week. The Nasdaq plummeted by 3.4 percent ,while the S&P 500 and the Dow both slumped by 2.1 percent.

Concerns about the outlook for the U.S. economy continued to weigh on Wall Street following the release of a closely watched Labor Department report showing employment increased by much less than expected in the month of July.

The report said non-farm payroll employment climbed by 114,000 jobs in July after jumping by a downwardly […]

https://www.howestreet.com/2024/08/flat-earnings-take-toll-on-stock-markets-mark-leibovit/

Welcome to August as it is one of the worst months of the year.  Too bad it got an early start.  Maybe there is more to go on the downside.  Bonds on the other hand has higher to go.  Bitcoin continues lower after it’s recent Trump rally.  Gold bullion hit all time highs today.  The strongest gold stock, AEM did well.  Uranium continues moving lower, along with the move lower with Crude Oil.  Mark Fisher, crude oil specialist said, starting next Tuesday, Crude oil is likely to start moving higher again. 

U.S. Stocks Move Sharply Lower As Data Raises Economic Concerns

After extending yesterday’s rally early in the session, stocks moved sharply lower over the coursed the trading day on Thursday. The major averages all showed substantial moves to the downside.

The tech-heavy Nasdaq plunged 405.25 points or 2.3 percent to 17,194.15, the S&P 500 tumbled 75.62 points or 1.4 percent to 5,446.68 and the Dow slumped 494.82 points or 1,2 percent to 40,347,97

The sell-off on Wall Street comes as some disappointing data led to concerns about the outlook for the U.S. economy, […]