Posted by MUMBAI, Nov 7 (GoldTradingCalls.com) Dow futures trading down after October 190,000 jobs cut pushing the unemployment rate above 10 percent.
Dow Jones industrial average Futures trading were down 39 at 9,915, after being up about 15 points prior to the report. Standard & Poor’s 500 index futures are down 3 at 1,059. Global stock market index trading like Nasdaq 100 index futures are down 4 at 1,714.
The Labor Department says employers cut 190,000 jobs last month, more than the 175,000 job losses economists expected. The unemployment rate jumped to 10.2 percent — the highest since April 1983. Though investors have been expecting unemployment to rise above 10 percent eventually, the increase in October was more than expected.
Our Inhouse Quant Forecast in BLUELINE Superimposed on price chart clearly shows that Dow Futures has completed it bear market rally top is beginging to commence it down move. The downward momentun of Dow futures trading to pick pace.
Keep visiting our site for the latest on Dow Futures index trading.
