Dow Closes Down 147 to New 2004 Low

NEW YORK (AP) - The Dow Jones industrial average fell to a new 2004 low Friday as investors bailed out of stocks in the wake of a disappointing jobs report and continuing high oil prices. The Nasdaq composite index and Standard & Poor's 500 also created new year-to-date lows for the second straight session.

Payroll figures released early Friday showed employers added just 32,000 jobs last month, data low enough to warrant worries that a slowing in the economy in June may have been more just a brief pause.

Combined with oil prices still hovering near $44 a barrel, investors sold off heavily for a second straight day, worried that inflation and slow job growth would interrupt the economic recovery for a sustained length of time.

According to preliminary calculations, the Dow fell down 147.41, or 1.5 percent, at 9,815.62.

Broader stock indicators also fell sharply. The Standard & Poor's 500 index dropped 16.76, or 1.6 percent, to 1,063.94, and the Nasdaq was down 44.74, or 2.5 percent, at 1,776.89.

Rickie

Hope you bought before close!!! Will be nice gains next week!

Charlie

Rickamavens version of his infamous, "THE SKY IS FALLING THE SKY IS FALLING", crap.

You been eating too much chicken again Rick?

JonR

We need more taxes!! We need more international support!! We need Kerry!! Wait, I don’t know what we need… I keep waiting for Kerry’s answer to all the problems I have, but I never hear them.

On second thought, Kerry keeps telling me I have problems but now that I take a closer look, I’m not sure what he’s talking about.

Did I miss the President yelling at Wall Street to "sell,sell,sell!"?

How you can pin a bad day at the stock market on GW is beyond me. If he was doing nothing about the economy (which you should know he has very little to do with anyways!)and we were in the middle of a recession then I'd be right there with you. So far he's not telling us to dial down the thermostats, instituting an odd-even gas buying policy or any other kooky crud.

Smile. Be happy.

Heck... Sharon Stone blames Bush for not being allowed to kiss Hally Berry during the disaster of a movie, "Catwoman." It's typical hatred...

Don't even DARE to ask Rick when the recession and bad economy started. Probably wouldn't remember anyway, have to love selective memory and revisionist history!

Sometimes it's easier to blame those we hate with EVERYTHING, whether it's the intelligent thing to do or not. Again, each to their own.

What do I know though, he's already branded me one of the evil and stupid people who blindly love President Bush (pulled that one out of the air rather nicely I might add). Must have been Fox News that corrupted me? Eh, Rick?!

428cj

please don't tell me you take fox "news" seriously.

perhaps you should spend a few dollers and get a dvd of "outfoxed" to be fair and balanced to yourself.

428cj

i hope i didn't brand you personally. i believe i was talking about the collective group of blind being led by the one eyed man.

Haha, not to worry Rick. I don't feel I've been personally branded (I can still sit down comfortably anyway).

Since you seem to like throwing out how people of my political affiliation are 'corrupted' by Fox News, or something to that effect, I like to throw it back at opportune times. That's all!

Rick probably digs on NPR (Liberal enough for him) and hates Fox, since he seems to be extremely to the left of center on most subjects.....go back to hummingbird watching and beanie babies!

Charlie

I got a great raise this year, my job is secure and my investments are stable. I don't see where Bush has done me any wrong. I do remember Clinton trying his damndest to take away my right to bear arms.

J

DrMaddVibe

i believe the market reacted to the 33,000 only jobs created by the adminstration. i guess another tax break is due.

calavera

i thought under his administration a person could bare anything he wanted.

"please don't tell me you take fox "news" seriously"

This is from someone who considers the "Globe" to be a credible news source. I think this week features alien hookers...or is that the "Sun"...

rayder1

it's the not the pale moon that excites me.
thrills and delights me
no,no, it's just the nearness of you.

If I would have sat around and waited for the President of the US - either party - to "create a job" for me, I'd have been in serious financial trouble. I have never gotten a job because of who was in the White House. I have never lost one, either.

The liberals whine and cry about the price of gasoline and how it's ruining our economy. And it certainly is helping to do that. So what's the solution? Go drill in the liberals' precious wildlife areas and take our own oil, or go kick the hell out of some country and take it. Gosh, that won't upset them now, will it?

Oh wait - there is another solution. "The Government" should pay for our gas and our health care and make us a job we want and pay us what we want and fix our car for free and tuck us in at night with a bedtime story.

I'd love to hear how John Kerry is going to fix all this in one week. But he said he's not going to tell us anything that he's going do until he gets into the White House. So there. If you want to know, you'll just have to elect him and be surprised.

snowwolf is right-presidents do not create jobs. Unfortunately, they get both the credit and the blame.

Rick, just what do you think the government's role is?

Where should it start and where should it end? Womb-Tomb? No personal decisions? No personal responsibilites? Banking? Healthcare? Human Resources? Personal Finance?

Seriously. The government is Santa Claus benders are getting old.

Rick, just what do you think the government's role is?

Where should it start and where should it end? Womb-Tomb? No personal decisions? No personal responsibilites? Banking? Healthcare? Human Resources? Personal Finance?

Seriously. The government is Santa Claus benders are getting old.