Market Gains Disappear, Stocks Go Red

stocks

After staging a nice rally in the wake of the strong jobs report, the stock market is now in the red.

The Dow was up as much as 109 points. Now it’s down 9 points.

The U.S. economy added 195,000 jobs in June, beating expectations for a gain of 165,000.

The unemployment rate was unchanged at 7.5%.

Strength in the labour market has more people convinced that the Federal Reserve will begin to taper, or gradually reduce, it’s stimulative bond buying program.

More to come…

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