Closing Bell 09.07.07

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Closing Bell delivered in 30 minutes or less or it’s free by Financial Times
Lots of numbers out today and all of them abysmal. Jobless claims indicated at 4.6% with over half a million people out of a job prompting increased fear of recession. Stocks saw one of the worst trading days since the end of July. Or what we like to call "the bloodbath weeks."
Interestingly, Treasury Secretary Henry Paulson said he “was not totally surprised about the decline in jobs last month given housing troubles and less government hiring.” Well golly gee Hank – why didn’t ya say something??
Rumors that a fed rate cut are imminent zipping along the business wires.
Greenspan sees visions of 1987/88-Market-Crash-Past sighting the current market tumult reminiscent of ’87 stock market crash.
Finally, bearish index numbers with the DJIA down -1.87%, the NASDAQ down a similar -1.86% and the S&P 500 closing at -1.69%.
Additional market brilliance served instantly – no sugar added at FT Alphaville

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