Job Cut Parade

Dupont cutting 2,500 jobs (+ 4,000 contractors)
Credit Suisse cutting 5,300 jobs (mostly in U.S.)
AT&T cutting 12,000 jobs
Nomura cutting 1,000 jobs
Belden to cut 20% of staff
Viacom to cut 7% of staff
Adobe to cut 600 jobs

New unemployment claims fell last week by 21,000. However, the 4-week moving average, which is the number market insiders watch, continues to climb.