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Stock Market Still Fluctuating


A sharp dive in private job growth and a continued slowdown in the manufacturing sector combined to send the Dow Jones Industrial Average down almost 280 points Wednesday, its biggest drop since early March. Troy Reinhart  is with Northwest Quadrant Wealth Management in Bend. “Continuing bad news on the job front and manufacturing slowing down. It’s still growing but not growing at the same pace. We’ve been in this sort of a slow drift upwards or sideways, and continuing bad news on threw job front and manufacturing slowing down, it’s still growing, but it’s not growing at the same pace. We’ve been in this slow drift upwards or sideways and this is just enough of a catalyst to send some people out of the Market. Like yesterday (Tuesday) was enough, just with what was going on in Greece, the EEU to send people back into the Market. So I think people are trying to figure out where we’re going and how fast we’re gong to get there and that causes lots of volatility.” Doubts about the economy's strength that built throughout may were compounded by a pair of reports that were weaker than investors expected.  The ISM's Manufacturing Index fell and private employers added just 38,000 jobs in May, down from 177,000 in April.  Analysts had expected 180,000 new jobs.

 

 

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