Rooster306's  Instablog

The latest Wall Street news is not good at all! Last month, only 69,000 new jobs have been added after the seasonal adjustment and it seems that the U.S economy is following the slowdown that is already felt on the European and Asian markets. The 69,000 jobs adjustment represents the smallest increase in the last year, while the unemployment rate felt a rise from 8.1% in April to 8.2% in May. The Wall Street market and its slowdown now represents a flash point for the presidential race, as voters have directed their entire attention towards the job creating credentials of the candidates.

Mitt Romney, the Republican candidate and President Barack Obama have already presented their cases to voters and it seems that only time will show how well they have done. Until then, the Wall Street stock market has tumbled on the report. The Dow Jones Industrial Average, which has a very strong word to say on the Wall Street market, has experienced its lowest point in 2012. It happened on Friday, when the 2.2% falling has been registered. The Obama campaign and the White House have been both surprised by the job numbers that have been revealed on Friday and polls now show the fact that the entire population has the economy and its state as main concerns before the November elections.

A Wall Street report showed the fact that April is a month in which the consumer spending felt a rise, but the rise outpaced the incomes, which means that many consumers are still lacking cash. However, there are a few areas in which the economy is resilient. For example, the auto sales continued to gain numbers in April and May, the inflation has not registered an increase, while many consumers have managed to save some money thanks to the fact that the energy price has fallen. Unfortunately, the large picture shows that the economy is still struggling a lot and good news is still far to come. The Wall Street market has been quite hesitant to make important moves in order to avoid another crisis in case of failure and as long as nobody is making an important decision, things will continue to be struggling, together with the economy. Specialists say that this will surely be the normal state of the U.S. economy, at least for another few months and that people should not expect for miracles to happen!

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.