Top 3 Reasons Markets Slipped Like Charlie Sheen

Markets closed down on Wall Street: DJI -0.72% SP500 -0.74% Nasdaq -0.05% Gold +0.86%

The markets were down because:

  • Spiking gas prices are raising concern about the economic recovery. On my way home I was reminded what high gas prices look like and how they will start taking a bite out of discretionary income as Oil (NYSE:USO) rises to $104 a barrel. Now check out Wall St. Cheat Sheet’sTop 10 Oil Exchange Traded Funds for Your Investing List >>
  • Unemployment took baby steps. Although we’re moving in the right direction, we didn’t get enough shock to continue what was baked in from yesterday’s Initial Jobless Claims — and Walmart (NYSE:WMT) even raised their dividend! Here’s a cool look at a chart which makes us ask: Is Peak Unemployment Behind Us? >>