"It is unclear at this point whether or not this move up in the trend reflects issues seasonally adjusting the data around the holidays or if it represents a more meaningful deterioration in the labor market," said Daniel Silver, an economist at JP Morgan in New York. State-level data for the week ending Jan. 10 showed an increase in claims in the oil-producing...» Read More
Stocks could continue to trade sluggishly Wednesday, but traders are watching the durable goods orders report expected tomorrow as a potential source of volatility.
Economic reports could rule the markets Thursday, as investors get a fresh look at the jobs situation and the health of the housing market.
Now that the much-anticipated pullback has arrived, traders are debating how low the skittish stock market can go. But one thing's for sure: It'll have a lot to do with oil.