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Friday, June 4, 2010

Disappointing Jobs Data Threatens Fragile Rally

Already under pressure from early morning news of default talk out of Hungary, a disappointing Nonfarm Payrolls number sent pre-market equity futures sharply lower. The early low did hit a support level where it has held as of this writing, but the fledgling rally effort of the past week or so remains fragile as a news-driven environment and battle between bulls and bears continues to trigger wild swings in the markets.

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