Trader Talk

What Caused the Stocks to Fall?


Stocks took another modest move downward right after 1 PM ET. Goldman Sachs John Hatzius has changed his forecast for the September change in nonfarm payrolls to a loss of 250,000 jobs, from the prior estimate of a loss of 200,000 jobs.

"The latest data points on the US job market have been disappointing on balance, including the Monster index of on-line hiring, the ISM employment index, consumers' assessments of job availability, and the total number of individuals receiving continuing claims for unemployment insurance, including those for extended benefits."

They continue to believe the unemployment rate will be reported at 9.8 percent.



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