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The major stock indexes opened lower after pre-session data indicated the labor market had suffered major losses in May. The selling continued after the 10 am testimony from Federal Chairman Ben Bernanke , who said the growing fiscal debt couldn’t be ignored and that recovery from the recession...
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Markets reacted positively to a better-than-expected ISM Non-Manufacturing release at 10 am, but the gains were quickly erased once testimony from Fed Chairman Ben Bernanke was released shortly after. The S&P peaked within minutes of the ISM index, but by 11 am the S&P had fallen 8 points to...
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If the gains from Monday can hold through Friday, the Nasdaq will see its ninth straight week of gains. The decisive day will be Friday, as markets will be digesting the Thursday afternoon results of the Stress Tests just as the official Employment Statistics are posted for April. Tuesday shouldn’t...