At 6:50 a.m. futures are significantly down, the dollar is mostly up against major world currencies, and the price of oil is down per barrel. The market is poised for a steep decline at the opening bell barring redeeming news in the next three hours.
When I see this type of alignment, I usually say stuff like, well its a nice day to enjoy nature...
Shrug it off.
One suspects that the government's numbers on employment in February will be a big deal later in the week with a possible upside. But with a modest downturn in economic activity in Europe and China, the investment news is unfavorable for the immediate present.
CNN: Stocks set to drop on economic growth worries
...European Union that the continent's economy contracted by 0.3% in the 4th quarter of 2011.
...set a lower target for China's economic growth on Monday...
...the Senate Banking Committee will hold a hearing on job growth...
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