Dramatic Day So Far

The stock market is down again today after a severe loss on Tuesday. From Monday’s high to today’s low, the Dow lost 1,737.99 points. However, the market has bounced impressively off today’s low. I don’t know how much more that can last.

Some indexes, like the Russell 2000, are very close to being more than 20% off their high. Although there are already some prominent stocks that are up for the day.

This morning’s ADP report showed that private employers added 179,000 net new jobs last month. That was inline with forecasts. The November jobs report comes out tomorrow morning. ISM Non-Manufacturing Index rose to 60.7% for November.