I must say I was shocked when initial jobless claims fell by the most in months, but stocks dropped. This was the likely cause. It looks like we may be putting in a bottom, however. The recent rally is looking a bit soggy now. We've also bounced lower off the 200-day moving average.
NEW YORK (MarketWatch) -- U.S. stocks furthered their fall on Thursday after another weak manufacturing report, this one from the Philadelphia region. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 10,260, -107.09, -1.03%) fell 72.88 points to 10,293.84. The S&P 500 Index /quotes/comstock/21z!i1:in\x (SPX 1,083, -11.74, -1.07%) shed 8.71 points to 1,086.46. The Nasdaq Composite /quotes/comstock/10y!i:comp (COMP 2,225, -25.32, -1.13%) dropped 17.39 points to 2,232.45.
