Even the 10.2% unemployment rate can’t keep these Bulls down.
The market opened up for a few minutes, then as expected, began to plummet. However, the Dow has since reversed and is up 7 points, still above 10,000 at 10,008. The NASDAQ and S&P are barely up, essentially breaking even at the moment.
As far as sectors go, financials and insurance companies have taken a big hit, most down over 1.5%. Energy has been slammed too, with a blood red sea of charts posting multiple losses. However, the rest of the sectors are mixed bags, with some companies like GE (GE) and Comcast (CMCSA) gaining a few percentage points.
Gold has surpassed the 1100 mark as the dollar continues to fall and countries like India step up gold purchasing programs. Oil is falling, down to $77 a barrel as estimates show anticipated lower demand.