Stocks and business of Data jobs suffer
Implying that some banks may fail stirs concerns for any investor who’s familiar with financial and economic history,” said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. ”Investors have been very edgy about credit market conditions and banks’ financial conditions. Very edgy. And this doesn’t remove that edginess.”
Earlier, stocks had fallen in response to a Labor Department report that first-time unemployment claims rose last week by 19,000 to 373,000, the highest level since late January.”To consistently see claims up near 400,000, that’s pretty telling often-times of a recession,” said Scott Wren, equity strategist for A.G. Edwards & Sons. Wren said he still believes there’s less than a 50 percent chance of a recession, but that it’s clear employers are cautious about hiring.
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