Dow -1,300

The stock market is taking a hit today. Actually, it’s been a while since the bears had a good day so perhaps this was due. The Dow is currently down over 1,300 points. Of course, that’s a smaller percentage than it used to be. This may be the worst day since March.

This morning’s initial jobless claims report came in at 1.542 million. That’s the tenth weekly decline in a row. (By that, I mean decline in the increase.)

Many of the stocks that had been doing well, meaning stocks tied to an economic recovery, are down the most today. The “recovery thesis” is getting its first push-back in a few weeks.

This could be the market’s first three-day losing streak since March. That’s the longest run without one since 2017.

Posted by on June 11th, 2020 at 1:03 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.