The Dow is the good news in the US equity market today
The Dow has ticked down over a thousand points on the day. It is currently down 1010 points. The low price reached 28074.76, or -1025 .74.
That's the good news, the NASDAQ index is currently down 5.52% while the S&P index is down just over 4%. The Dow at its lows fell -3.52%.
The decline today will certainly have traders on edge ahead of the employment statistics that will be released at 8:30 AM tomorrow. If the numbers are worse than expectations, what can we expect at the stock opening tomorrow at 9:30 AM ET? It could get ugly.
The net change in employment is expected to show a 1.35 million increase vs. the 1.673 million increase last month. The unemployment rate is expected to tick down to 10.1% from 10.9%. However, as Adam pointed out in an earlier post, the range of estimates is wide at -100K to +2400K
