Another day, still the same Euro crisis. Markets across Europe are getting slammed this morning as both Italy and Spain deal with spiking bond yields. The Greek election looms large this weekend, though their stock market did spike today on rumors the bailout would not be scrapped. Market watchers miss the point there. They all want the money. They just don’t want the conditions.
A quick look at the major indices pre market has the Dow futures down 3, the Nasdaq down nearly 2 and the S&P essentially flat. Sign Up For Free Stock Alerts
Domestically the jobs picture is becoming bleaker. Jobless claims jumped 6k to 386k after an upward revision of last week’s numbers. Still under the 400k level most economists see as a growing labor market, but from a perception standpoint it is getting decidedly weaker. [Read more...]