Not even a solid jobless claim report could shake the blues pervading wall street this morning. Jobless claims fell to their lowest level in 4 years last week, 350k, but are expected to tick up next week due to seasonal factors. Futures are down mainly because the FOMC minutes gave little evidence that QE3 is right around the corner.
A quick snapshot of the futures has the Dow down 78, the Nasdaq 18 and the S&P nearly 10.
Asian markets were hammered overnight as investors were more risk averse as it looks like the Fed is waiting for deterioration in the markets to move forward with any additional stimulus. Sign Up For Free Stock Alerts
Commodities were also taking a dive this morning with oil and gold both down. Nymex crude futures are down $1.10 to just over $84 per barrel. Gold futures are off $17 to $1558.70 per ounce. [Read more...]