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After Dismal Thursday, Stock Futures "Claw Back"
By
Jen Chung
Published Nov 7, 2008
Modified Nov 7, 2008
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By
Jen Chung
Published Nov 7, 2008
Modified Nov 7, 2008
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After yesterday's heavy losses on Wall Street, it's believed there's no way but up today: CNBC reports that futures are "pointed to a higher open" and may "claw back from a post-election selloff." Unfortunately, the Labor Department is expected to bring some depressing news about the jobless rate: Economists think it's climbed to a "five-year high of 6.3%" last month, according to Bloomberg News. An economist at IHS Global Insight, Nigel Gaults, sums it up: "Although the economy was the No. 1 key to Obama's success, as of Jan. 20 it will be his No. 1 problem. The damage from the financial crisis is quickly becoming evident."
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stock futures
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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