The overall market is weaker today after weekly jobless claims jumped unexpectedly and investors fret over the global economy. Many investors were happy to see that many members of the Fed said additional stimulus is likely coming unless the economy sees significant improvements.
Jobless claims surprised economists as they jumped to their highest levels in five weeks climbing 4,000 to an adjusted 372,000 according to the Labor Department. Most economists were expecting a reading of 365,000.
The Dow is currently down more than 80 points this morning, the Nasdaq is down 7 points and the S&P 500 is down 6 points. [Read more...]