ADP unemployment data - US companies cut 693000 jobs in december

ADP has its own Jobs number, the main one which most people watch is the Non-farm payroll data from the US labor department which will come out on Friday at 8:30 am.
Click here for the bloomberg.com news on ADP's number which they say should be close to the US labor department number.
That and Intels bad numbers were enough to send the market down.
Oh also yesterday evening Alcoa ( the aluminium producer)came out with its report saying they see a prolonged downturn and that send metal stocks down.
Oil fell huge today around 12% and though the US$ fell a bit , Gold tumbled too by about 3%.
USO fell a lot. Once the overbought condition of the market is worked out and we start getting earnings reports/pre-announcement, thats when we will see if the bulls have any strength. I will post a list of stocks which look strong. But remember its a bear market.