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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/4/2001 8:44:16 AM
From: Softechie  Read Replies (1) of 37746
 
Employment Report : Weakness was widespread -- job declines in construction, manufacturing, and services. The average workweek held steady, which is a lone bright spot. Overall, this report confirms what Briefing.com economists had feared -- that we have yet to see the worst of this economic downturn. Another Fed rate cut of 50 bp on May 15 is likely. Market had moved down sharply as recession fear move back to the fore -- S&P futures went from +1 to -9, Nasdaq from +15 to lock-limit down 42.
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