U.S. stock futures began to waver after employment data was released…

Another two million Americans have for unemployment, officially surpassing 40 million in total. To give you more of a perspective of how disappointing these numbers are, look at it as a fraction: one out of every four Americans no longer have a job. 

While this is the eighth week straight that we saw a decline in filed jobless claims, GDP also came out today -- and the number wasn’t pretty.

In fact, this is probably the worst contraction we’ve ever seen, and I expect the markets are already factoring this in as I write.

Watch how the futures are reacting below.

In today’s video, I’m also covering the newest developments with China… the impact of Fed news on the market… why tech is cooling off…. the #1 sector to watch… and the sector to avoid.

Roger Scott

Head Trader, Market Geeks

P.S. I’m tired of watching people get crushed by this economy…

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