Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Tuesday, August 10, 2010

Another bad economic news Market Smackdown

I had a chance to check the markets this morning, and I see the Labor Dept released their report showing that the nation's productivity numbers declined for the first time in 1 1/2 years. It also said that labor costs rose at the same time. These are the early warning signs of a second leg down in the economy beginning. The broad market was slammed down hard at the open. The Nasdaq is currently down 40 pts. A lot of the market media is blaming it on Fed announcement jitters. Most of the market media sites chose not to run the labor dept report.


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