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Article: Jobs report takes wind out of Wall Street's sails.
- Article from:
- Investment News
- Article date:
- July 9, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Once again, Wall Street is singing the profit blues.
Stocks plummeted Friday, thanks to yet another wave of corporate profit warnings. A key U.S. jobs report also dashed hopes of a speedy economic recovery.
"It's just a really nasty one-two punch that has taken all the wind out of the sails of Wall Street," reportedly said Charles Payne, an analyst at Wall Street Strategies in New York.