U.S. stock futures began to waver after employment data was released…
Another two million Americans have for unemployment, officially surpassing 40 million in total. To give you more of a perspective of how disappointing these numbers are, look at it as a fraction: one out of every four Americans no longer have a job.
While this is the eighth week straight that we saw a decline in filed jobless claims, GDP also came out today — and the number wasn’t pretty.
In fact, this is probably the worst contraction we’ve ever seen, and I expect the markets are already factoring this in as I write.
Here’s how the futures are reacting.
In today’s video, I’m also covering the newest developments with China… the impact of Fed news on the market… why tech is cooling off…. the #1 sector to watch… and the sector to avoid.
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