June 29, 2009 (FinancialWire) (By Genevieve Hawkins) — Wall Street put in a mixed performance last week as Boeing (NYSE: BA) lagged, and there is danger that a poor employment report this Thursday could drag the market down further. Last week’s volatile performance ended with the Dow down 1.2%, while the S&P 500 dropped .3% and the Nasdaq gained .6%.

With the month of June and the second quarter ending on Tuesday volatility may accompany fund manager’s repositioning of their portfolios. There will likely be a downward market slide as long as the unemployment rate and foreclosures continue to rise.

June’s job report is expected to be released on Thursday as the stock market is closed on Friday for the July 4th holiday, and this reading will likely color the mood of investors for the next few weeks. The nonfarm payrolls data is expected to show a jump in the unemployment rate to 9.6%, and there will likely be a market slide if the rate moves upward as expected. Window dressing on the rate of decline is not working as well with investors as of late!

A slide could be expected as market participants position themselves ahead of the all-important second quarter earnings season. When all is said and done, however, the market may end the week very close to where it started it at. Happy Independence day.

The Investrend Economics Calendar lists Treasury auctions 3&6-month bills (1 p.m.), Farm Prices for June (3 p.m.).

The Investrend Events Calendar showcases RJET, SKYW at Terrapinn Low Cost Airlines Conference.

The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session’s trading showed 27 advancers versus 21 decliners and two unchanged. Advancers were led by Cell Therapeutics, Inc. (NASDAQ: CTIC) up 17.83%, American Capital, Ltd. (NASDAQ: ACAS) up 16.54%, Palm, Inc. (NASDAQ: PALM) up 15.69%, Eastman Kodak Co (NYSE: EK) up 14.34%, Sprint Nxtel Cp (NYSE: S) up 6.62%, Unisys Cp (NYSE: UIS) up 6.52%, Insmed, Inc. (NASDAQ: INSM) up 6.48%. Decliners followed Chico’s F A S Inc (NYSE: CHS) down 13.74%, Allscripts-Misys Healthcare Sol (NASDAQ: MDRX) down 8.33%, Tw Telecom Inc. (NASDAQ: TWTC) down 7.58%, Pmc (NASDAQ: PMCS) down 7.08%, First Niagara Financial Group I (NASDAQ: FNFG) down 6.68%.

Investrend Website of the Day: http://www.globe-theatre.org.uk/globe-theatre-fire.htm

Quote of the Day: “Reading and writing, arithmetic and grammar do not constitute education, any more than a knife, fork and spoon constitute a dinner.” Sir John Lubbock

Today is: Independence Day in the Seychelles.

Happy Birthday: William Mayo, George Ellery Hale, Robert Schuman, Nelson Eddy, Slim Pickens, Ray Harryhausen, Gary Busey, Colin Hay, Fred “Gopher” Grandy, Richard Lewis, Stokely Carmichael.

Today in History: The Globe Theatre in London, England burned to the ground in1613 after sparks from a cannon fired in a play ignited the wood and thatch construction. Alexander Macdonnell and over five hundred Catholic highlanders left Scotland in 1786 to settle in Glengarry County, Ontario. Coal was discovered on Vancouver Island in 1850. George Custer was appointed in 1863 as a U.S. Union brigadier-general. France annexed Tahiti in 1880. In soccer, United States defeated England 1-0 in the Football World Cup in 1950. The Federal-Aid Highway Act of 1956 was signed, officially creating the United States Interstate Highway System.

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