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Updated 5.46 pm
WALL STREET STOCKS appeared headed for another wild ride today, opening sharply lower but working their way into positive territory shortly thereafter.
About 25 minutes into trading, the Dow Jones Industrial Average had recovered to 24,551.76, up 0.9%.
The broad-based S&P 500 gained 0.7% to 2,668.43, while the tech-rich Nasdaq Composite Index advanced 0.7% to 7,017.87.
US stocks suffered one of their worst days ever Monday, with the Dow dropping by record 1,175 points, which some observers likened to a “,” sparked mainly by unease over the prospects for higher interest rates.
The turmoil spread to global markets overnight, with Japan’s Nikkei dropping nearly 5% and bourses in London, Paris and Frankfurt all down more than 2%.
After two days of steep declines, US stocks again opened sharply lower, with the Dow quickly losing more than 500 points within a few seconds. But stocks bounced back after that, as investors took advantage of the low prices.
Until the last week or so, US stocks have been propelled for more than a year by the confidence of investors who have stepped in to buy whenever there was a retreat in the market.
The price movements after the open suggested the tendency still existed among some investors, but rising volatility makes the market’s course from here anybody’s guess.
Data released before the open showed the US trade deficit rose 12.1 percent from 2016 to $566 billion, driven higher by rising crude imports and a ballooning goods deficit with China.
What a nice way to start the week! Some good news…. finally!
Actual good news. Expect trolls to start abuse…..now.
40 red thumbs for good news. Nobody with the balls to say why. Not happy unless their miserable types probably need a ride.
It’s all a lie getting people to do a weeks work for 20 euro extra on top of there dole does not mean that their working for a proper weeks wage. This tus is a government scam.
And here come the begrudgers, no doubt. How sad it is that it is the default position of so many people on here to greet good news like this with cynicism and evident disappointment purely because it contradicts their “the end is nigh, blame the Government” narrative. Such a dark place to be.
I think they chose a nice picture of Richard for the article, he looks pleased and content and has a nice round bow tie.
One shouldn’t dare to have a critical mindset, lest one attract the dreaded label of ‘begrudger’. Sure if IBEC says there’s good news, it must be true.
Dietrich you are spot on ,take anything this government or any of its institutions says with a pinch of salt you are being sucked in by deception they only have their own interests at heart ,the political classes.
@Touchy.. I could possibly fit into the ‘begrudger” category you state, however to fight my corner I would usually be begrudging due to the fact the way the news is reported more than what it was trying to say. Usually its unemployment figures, however in this case they are actually showing employment figures on the rise, which is not just good news, but good new reporting, as its not trying to cloud the data with emigration, FAS courses and the like.
You can hardly argue with the fact there are more people in employment, hence more tax revenue for the government and hopefully less paying out on Dole cheques.
Drop the higher Vat rate to 20%. Scrap USC. Will create thousands of jobs in retail. Will kick start the local economy. Get Ireland moving again.
Fully agree. Now is the time to take chances while there are signs of a recovery to help boost that recovery.
Reduce VAT rate in construction/ building to 9%. 1 in 4 people on the dole are from the construction industry. A reductuon will help thousands get back to work.
unless the reductions are passed onto customers it will have no effect, it will just mean business making more profit
Its clear not all business passed on the last reduction in vat
Agree 100% but to drop VAT we must drop public spending. Income tax also needs to drop.
If they would only extract the CE, Jobsbridge, FAS courses, etc then we would havecactrue picture.
Having said that looking back over past weeks there does seem to be jobs (proper ones) coming up.
135,000 people are doing CE scheme, FAS courses and Jobsbridge.
Ok Lads lets deflect attention from this bloody referendubbbb
I concur with the comments about revealing the true figures. A lot of people I know that are long term unemployed have been pushed into education in September. While this is welcome, please give us a true unemployment figure. I reckon as many as 10,000 have been taken off job seekers and placed on education courses.
Ah a lovely bit of ambiguity to start the week off
34,000. How many full time jobs in that? How many off the dole. Emigration still soaring. Hardly positive when you look past the spin.
Why is IBEC called the employers group and not a union which they are?
Because that way they can espouse exploitation as ‘partners’ and not just as sh!thawks and vultures!!
Job bridge isn’t a job
That’s why they call it Job “Bridge” it’s a scheme for people to train and gain experience to later become employed. A lot of jobs today require that the applicant would have some experience working in that field, in some cases 2 years. It actually has been shown to be a success with over 60% of interns going on to find employment.
Richard looks like a simpleton.
Richard has a lovely smile, the dear boy!
Whew, the spin has me feeling dizzy.
That vat thing cost hundreds of millions in taxes each year , lets face it the low wage, part time seasonal jobs that where created where down to increased tourist numbers not a reduction in vat rate that was almost immediately pocketed by employers. Even noonan implied it wasn’t worth it(cost>benefit)
have your say