The Traderszone Network

Join Midday Movers live now for the latest news on the markets, the economy and the biggest stories of the day.

Market observers are comparing today’s economic backdrop to the one 29 years ago, when oil crashed, corporate profits dipped, the Fed tightened — and stocks did fine.

The fate of millions of unemployed workers hinges on the answer to that question, as does the timing and pace of the Federal Reserve’s interest rate hikes. We’ll get our next reading on the labor market on Friday, and economists on average expect that the unemployment rate will stay at its current 5.5 percent, down from 10 percent at its recent peak in October 2009.

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A measure of U.S. exports contracted for a second month, indicating a stronger dollar is making it difficult for factories to drum up overseas sales. Less investment by America’s energy producers and slower consumer spending so far this year also represent hurdles for domestic manufacturers. “There’s no question manufacturing has weakened in the past few months,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York, who accurately forecast the ISM reading.

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It’s easy to understand why some investors are anxious about recalls, especially after GM’s tragic recall that cost the company over $4 billion. Ford’s situation is hardly comparable, though, let’s dig in.

Another disappointing quarter has this stock in Mr. Market’s doghouse today.

Stocks slumped, bond yields fell and the dollar waffled on jitters that economic growth is even more sluggish than feared.