MIDDAY LUNCH

Dow 10217.72  -156.44, Nasdaq 2206.60  -29.10, S&P 1090.67  -14.57 

The markets have been under pressure all day.  The pressure came from concerns over Greece’s debt after S&P said they may lower the country’s debt rating to junk status.  This led to fears about the impact it would have on the Eurozone.  This caused the Euro to fall and the dollar to rise in value. The dollar is currently up +0.2%.

Then we got the jobless numbers, which were much higher then what economist had expected.  Initial claims climbed 22,000 week-over-week to 460,000 and continuing claims were also worse than expected at 4.62 million.

Durable goods orders increased a stronger-than-expected +3.0% in January, but orders less transportation made a surprise -0.6% decline.

Currently 90% of stocks in the S&P 500 are trading down and all the stocks in the Dow are trading with a loss.

On a plus note, Express Scripts (ESRX) 93.98 +6.23, +7.10% is having a great day after the company had a nice earnings report and Oppenheimer raised their target price on the company.